Hemington Wealth Management Buys 38 Shares of GE Vernova Inc. (NYSE:GEV)

Hemington Wealth Management increased its position in GE Vernova Inc. (NYSE:GEV) by 34.5% during the 4th quarter, Holdings Channel reports. The firm owned 148 shares of the company’s stock after acquiring an additional 38 shares during the quarter. Hemington Wealth Management’s holdings in GE Vernova were worth $48,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC increased 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 valued at $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC increased its holdings in 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 period. Castleview Partners LLC purchased a new position in GE Vernova during the third quarter valued at approximately $28,000. Covestor Ltd raised its stake in GE Vernova by 61.3% in the third 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 stake in GE Vernova during the third quarter worth $31,000.

GE Vernova Price Performance

NYSE:GEV opened at $370.45 on Friday. The company’s fifty day moving average price is $360.87 and its 200-day moving average price is $290.73. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market capitalization of $102.11 billion and a P/E ratio of 66.63.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Morgan Stanley lifted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average 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.