Whipplewood Advisors LLC Buys Shares of 792 GE Vernova Inc. (NYSE:GEV)

Whipplewood Advisors LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 792 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd lifted its stake in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after buying an additional 66,455 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at approximately $206,000. Hanlon Investment Management Inc. purchased a new stake in shares of GE Vernova during the 3rd quarter valued at approximately $1,101,000. Atria Investments Inc lifted its stake in shares of GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its holdings in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after acquiring an additional 822 shares during the period.

Analyst Ratings Changes

GEV has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Barclays upped their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Truist Financial upped their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Down 2.9 %

Shares of GEV opened at $325.64 on Friday. The stock has a market capitalization of $89.84 billion and a P/E ratio of 58.57. The firm has a fifty day simple moving average of $363.98 and a two-hundred day simple moving average of $303.53. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

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

GE Vernova Dividend Announcement

The company also recently declared 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 yield of 0.31%. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.