Strategic Financial Concepts LLC Buys Shares of 54,418 GE Vernova Inc. (NYSE:GEV)

Strategic Financial Concepts LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 54,418 shares of the company’s stock, valued at approximately $17,900,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mather Group LLC. bought a new position in GE Vernova in the third quarter valued at approximately $531,000. Atomi Financial Group Inc. boosted its position in shares of GE Vernova by 10.9% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,584 shares of the company’s stock worth $404,000 after purchasing an additional 156 shares during the last quarter. Brookstone Capital Management boosted its position in shares of GE Vernova by 17.7% in the 3rd quarter. Brookstone Capital Management now owns 4,466 shares of the company’s stock worth $1,139,000 after purchasing an additional 671 shares during the last quarter. CWM LLC grew its stake in shares of GE Vernova by 24.2% during the third quarter. CWM LLC now owns 11,037 shares of the company’s stock worth $2,814,000 after purchasing an additional 2,149 shares during the period. Finally, Wedmont Private Capital increased its holdings in GE Vernova by 8.9% in the third quarter. Wedmont Private Capital now owns 3,849 shares of the company’s stock valued at $1,011,000 after purchasing an additional 316 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on GEV shares. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Johnson Rice assumed coverage on shares of GE Vernova in a report on Friday. They issued a “buy” rating and a $425.00 target price on the stock. Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Stock Performance

GEV opened at $377.99 on Friday. The business’s 50-day simple moving average is $357.71 and its 200 day simple moving average is $284.04. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market capitalization of $104.19 billion and a PE ratio of 67.98.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.