J.W. Cole Advisors Inc. Acquires 1,244 Shares of GE Vernova Inc. (NYSE:GEV)

J.W. Cole Advisors Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 36.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,667 shares of the company’s stock after buying an additional 1,244 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in GE Vernova were worth $1,535,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. grew its stake in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares during the period. Hengehold Capital Management LLC increased its stake in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC boosted its holdings in GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares during the period. Finally, WASHINGTON TRUST Co grew its stake in GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after buying an additional 31 shares in the last quarter.

GE Vernova Trading Down 0.8 %

GEV opened at $367.43 on Tuesday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The company has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08. The stock has a fifty day simple moving average of $361.74 and a two-hundred day simple moving average of $294.36.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GEV shares. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America raised their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Truist Financial increased their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.