Empower Advisory Group LLC Takes $241,000 Position in GE Vernova Inc. (NYSE:GEV)

Empower Advisory Group LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 732 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Howard Capital Management Group LLC purchased a new stake in GE Vernova in the 3rd quarter worth $213,000. Stratos Wealth Advisors LLC purchased a new stake in GE Vernova in the 3rd quarter worth $305,000. Castleview Partners LLC purchased a new stake in GE Vernova in the 3rd quarter worth $28,000. Whittier Trust Co. increased its holdings in GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock worth $537,000 after acquiring an additional 40 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in GE Vernova by 30.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,708 shares of the company’s stock worth $5,280,000 after acquiring an additional 4,823 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $374.87 on Thursday. The stock has a market capitalization of $103.43 billion and a PE ratio of 67.42. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company’s 50-day simple moving average is $363.90 and its 200-day simple moving average is $297.73.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given 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 is presently 17.99%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEV. Citigroup upped their target price 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, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Johnson Rice began coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 target price for the company. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company upped their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target 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.