Cardinal Strategic Wealth Guidance Acquires New Position in GE Vernova Inc. (NYSE:GEV)

Cardinal Strategic Wealth Guidance bought a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 809 shares of the company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th 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 position in shares of GE Vernova by 530.8% during 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 last quarter. Castleview Partners LLC bought a new stake in GE Vernova in the 3rd quarter worth about $28,000. Covestor Ltd increased its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in GE Vernova in the 3rd quarter worth about $31,000.

GE Vernova Stock Up 1.8 %

GEV stock opened at $384.71 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $106.04 billion and a price-to-earnings ratio of 69.19. The firm’s fifty day simple moving average is $358.59 and its two-hundred day simple moving average is $287.18.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio is presently 17.99%.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on GEV shares. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Barclays raised their price target on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. 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, BMO Capital Markets increased their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.22.

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.