Resolute Wealth Strategies LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Resolute Wealth Strategies LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, Holdings Channel reports. The firm bought 12,214 shares of the company’s stock, valued at approximately $4,018,000. GE Vernova accounts for about 2.1% of Resolute Wealth Strategies LLC’s investment portfolio, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cedar Mountain Advisors LLC grew its position in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the period. Covestor Ltd boosted its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of 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 buying an additional 77 shares during the period.

GE Vernova Stock Down 6.0 %

NYSE GEV opened at $315.19 on Tuesday. The company has a market capitalization of $86.96 billion and a price-to-earnings ratio of 56.69. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a fifty day simple moving average of $363.25 and a 200 day simple moving average of $307.25.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts expect 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 authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 yield of 0.32%. GE Vernova’s payout ratio is 17.99%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BMO Capital Markets cut their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday. The Goldman Sachs Group boosted their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Robert W. Baird assumed coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Morgan Stanley boosted their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $347.83.

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.