Global Retirement Partners LLC Has $1.57 Million Position in GE Vernova Inc. (NYSE:GEV)

Global Retirement Partners LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,776 shares of the company’s stock after purchasing an additional 269 shares during the quarter. Global Retirement Partners LLC’s holdings in GE Vernova were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew 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 last quarter. Pineridge Advisors LLC boosted its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd grew its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in GE Vernova in the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised its position in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the last quarter.

GE Vernova Stock Down 4.2 %

Shares of NYSE:GEV opened at $359.57 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock’s 50 day moving average is $364.50 and its 200-day moving average is $298.16. The firm has a market capitalization of $99.21 billion and a price-to-earnings ratio of 64.67.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. 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 price target on the stock. Finally, Citigroup increased their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

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.