New England Capital Financial Advisors LLC Sells 62 Shares of GE Vernova Inc. (NYSE:GEV)

New England Capital Financial Advisors LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 36.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110 shares of the company’s stock after selling 62 shares during the quarter. New England Capital Financial Advisors LLC’s holdings in GE Vernova were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Covestor Ltd raised its position in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in GE Vernova during the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC increased its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $327.68 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The firm has a fifty day moving average price of $364.41 and a 200-day moving average price of $300.25. The company has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GEV shares. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Bank of America lifted their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Wolfe Research assumed coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Friday, January 24th. Finally, The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.