5,100 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Ibex Wealth Advisors

Ibex Wealth Advisors acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,100 shares of the company’s stock, valued at approximately $1,678,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $2,339,000. Public Sector Pension Investment Board acquired a new position in GE Vernova during the 2nd quarter worth approximately $1,800,000. AQR Capital Management LLC acquired a new position in GE Vernova during the 2nd quarter worth approximately $22,066,000. Mackenzie Financial Corp acquired a new position in GE Vernova during the 2nd quarter worth approximately $4,004,000. Finally, Scientech Research LLC acquired a new position in GE Vernova during the 2nd quarter worth approximately $257,000.

GE Vernova Price Performance

NYSE GEV traded up $0.33 during trading hours on Wednesday, reaching $355.45. 1,540,317 shares of the stock traded hands, compared to its average volume of 4,010,878. The stock has a 50 day simple moving average of $353.77 and a two-hundred day simple moving average of $275.94. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a market cap of $97.98 billion and a price-to-earnings ratio of 64.99.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. GE Vernova’s payout ratio is presently 17.99%.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday. Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Truist Financial upped their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.