Smartleaf Asset Management LLC Has $672,000 Stake in GE Vernova Inc. (NYSE:GEV)

Smartleaf Asset Management LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 47.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,035 shares of the company’s stock after purchasing an additional 658 shares during the period. Smartleaf Asset Management LLC’s holdings in GE Vernova were worth $672,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Waverton Investment Management Ltd lifted its position in shares of GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $206,000. Hanlon Investment Management Inc. acquired a new position in shares of GE Vernova during the third quarter worth approximately $1,101,000. Atria Investments Inc lifted its position in shares of GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its position in shares of GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $315.19 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm’s 50 day moving average price is $363.25 and its two-hundred day moving average price is $307.25. The firm has a market cap of $86.96 billion and a P/E ratio of 56.69.

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 analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEV. Barclays reduced their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Citigroup increased 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. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $347.83.

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.