Tcfg Wealth Management LLC Invests $210,000 in GE Vernova Inc. (NYSE:GEV)

Tcfg Wealth Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 639 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds have also made changes to their positions in GEV. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC raised its holdings in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Castleview Partners LLC purchased a new position in GE Vernova during the third quarter worth about $28,000. Covestor Ltd raised its holdings in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in GE Vernova during the third quarter worth about $31,000.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GEV. Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday. They set an “outperform” rating and a $448.00 price target for the company. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $367.43 on Monday. 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 200 day moving average price is $293.55. The firm has a market cap of $101.37 billion and a P/E ratio of 66.08.

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 firm 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. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business 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. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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

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.