Beacon Capital Management LLC Acquires 74 Shares of GE Vernova Inc. (NYSE:GEV)

Beacon Capital Management LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 75.5% in the fourth quarter, Holdings Channel reports. The fund owned 172 shares of the company’s stock after acquiring an additional 74 shares during the period. Beacon Capital Management LLC’s holdings in GE Vernova were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the last quarter. Pineridge Advisors LLC lifted 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 during the 3rd quarter worth $28,000. Covestor Ltd lifted its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova during the 3rd quarter worth $31,000.

GE Vernova Trading Down 0.8 %

Shares of GE Vernova stock opened at $367.43 on Monday. The stock has a market capitalization of $101.37 billion and a price-to-earnings ratio of 66.08. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm’s 50-day moving average price is $361.74 and its two-hundred day moving average price is $293.55.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on GEV. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday. Finally, BMO Capital Markets upped their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Company 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.