Tiemann Investment Advisors LLC Makes New $251,000 Investment in GE Vernova Inc. (NYSE:GEV)

Tiemann Investment Advisors LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 762 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC purchased a new stake in GE Vernova in the 3rd quarter worth about $213,000. Leavell Investment Management Inc. lifted its position in shares of GE Vernova by 181.8% in the third quarter. Leavell Investment Management Inc. now owns 3,723 shares of the company’s stock worth $949,000 after purchasing an additional 2,402 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of GE Vernova during the third quarter worth approximately $296,000. SpiderRock Advisors LLC grew its position in GE Vernova by 11.9% during the third quarter. SpiderRock Advisors LLC now owns 1,875 shares of the company’s stock valued at $478,000 after purchasing an additional 199 shares in the last quarter. Finally, Assetmark Inc. increased its stake in GE Vernova by 1,280.4% in the 3rd quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock valued at $1,961,000 after buying an additional 7,132 shares during the period.

GE Vernova Trading Down 1.5 %

Shares of GEV stock opened at $288.90 on Monday. The firm has a market capitalization of $79.71 billion and a P/E ratio of 51.96. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The firm’s fifty day simple moving average is $360.05 and its 200 day simple moving average is $310.59.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analysts Set New Price Targets

Several research firms have recently commented on GEV. Bank of America boosted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. Wells Fargo & Company lifted their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group increased their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $347.83.

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.