GE Vernova Inc. (NYSE:GEV) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. grew its position in GE Vernova Inc. (NYSE:GEV) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,372 shares of the company’s stock after acquiring an additional 738 shares during the period. D.A. Davidson & CO.’s holdings in GE Vernova were worth $2,425,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cedar Mountain Advisors LLC raised its position 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 acquiring an additional 39 shares during the period. Pineridge Advisors LLC raised 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 acquiring an additional 69 shares during the period. Covestor Ltd raised its position in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised its position in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period.

GE Vernova Price Performance

GE Vernova stock opened at $327.68 on Friday. The firm has a 50 day simple moving average of $364.41 and a 200-day simple moving average of $299.31. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The stock has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. GE Vernova’s payout ratio is currently 17.99%.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on GEV. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. BMO Capital Markets upped their price target on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday. They set an “outperform” rating for the company. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Company 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.