686 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 686 shares of the company’s stock, valued at approximately $226,000.

Several other hedge funds have also recently made changes to their positions in GEV. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the 3rd quarter worth about $2,507,296,000. International Assets Investment Management LLC raised its position in shares of GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after acquiring an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC raised its position in shares of GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter. FMR LLC raised its position in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares in the last quarter.

GE Vernova Stock Up 1.8 %

GE Vernova stock opened at $374.67 on Friday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company’s 50 day moving average price is $356.93 and its two-hundred day moving average price is $283.41. The stock has a market cap of $103.28 billion and a P/E ratio of 67.39.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GEV shares. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. BMO Capital Markets raised their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research note on Friday, January 24th. Barclays raised their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $342.94.

About GE Vernova

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.