GE Vernova Inc. (NYSE:GEV) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 11.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,372 shares of the company’s stock after buying an additional 738 shares during the period. D.A. Davidson & CO.’s holdings in GE Vernova were worth $2,425,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. lifted its holdings in GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC lifted its holdings in GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC lifted its holdings in GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after buying an additional 31 shares in the last quarter.

GE Vernova Stock Down 8.9 %

Shares of NYSE GEV opened at $327.68 on Friday. The stock has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. The firm has a 50-day moving average price of $364.41 and a 200 day moving average price of $299.31. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

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

GE Vernova Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

GEV has been the topic of a number of research reports. Barclays increased 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. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. CICC Research began coverage on shares of GE Vernova in a report on Wednesday. They issued an “outperform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.13.

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.