Valley Brook Capital Group Inc. Takes Position in GE Vernova Inc. (NYSE:GEV)

Valley Brook Capital Group Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, HoldingsChannel reports. The fund bought 739 shares of the company’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC raised its stake 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 worth $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Castleview Partners LLC purchased a new stake in shares of GE Vernova in the third quarter worth $28,000. Covestor Ltd raised its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at $31,000.

GE Vernova Stock Down 3.1 %

Shares of GEV stock opened at $373.13 on Wednesday. The firm has a market cap of $102.85 billion and a price-to-earnings ratio of 67.11. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The company’s 50 day moving average is $359.53 and its 200 day moving average is $288.77.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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). The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has authorized a share 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 generally a sign that the company’s board believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders 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 0.27%. GE Vernova’s dividend payout ratio is presently 17.99%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. BMO Capital Markets upped their price target on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, Johnson Rice began coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company 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.