Signature Wealth Management Partners LLC Buys New Position in GE Vernova Inc. (NYSE:GEV)

Signature Wealth Management Partners 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 (SEC). The firm purchased 644 shares of the company’s stock, valued at approximately $212,000.

Other large investors have also modified their holdings of the company. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the period. Castleview Partners LLC purchased a new position in shares of GE Vernova in the third quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of GE Vernova during the second quarter worth about $29,000. Covestor Ltd boosted its position in 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 last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova in the third quarter valued at approximately $31,000.

GE Vernova Price Performance

GEV opened at $354.80 on Wednesday. The firm has a market capitalization of $97.80 billion and a price-to-earnings ratio of 63.81. The company’s 50 day simple moving average is $353.47 and its two-hundred day simple moving average is $274.72. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GEV shares. Bank of America lifted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their target price 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. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Evercore ISI boosted their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova 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.