Guardian Asset Advisors LLC Has $500,000 Position in GE Vernova Inc. (NYSE:GEV)

Guardian Asset Advisors LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 36.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,519 shares of the company’s stock after buying an additional 405 shares during the quarter. Guardian Asset Advisors LLC’s holdings in GE Vernova were worth $500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Castleview Partners LLC acquired a new position in GE Vernova in the 3rd quarter worth about $28,000. Covestor Ltd raised its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova during the third quarter valued at about $31,000.

GE Vernova Stock Performance

GE Vernova stock opened at $369.76 on Thursday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm’s 50-day simple moving average is $360.87 and its 200 day simple moving average is $290.73. The stock has a market cap of $101.92 billion and a PE ratio of 66.50.

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

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on GEV. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Johnson Rice initiated coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird began coverage on GE Vernova in a report on Thursday. They set an “outperform” rating and a $448.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

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.