Traynor Capital Management Inc. Invests $231,000 in GE Vernova Inc. (NYSE:GEV)

Traynor Capital Management Inc. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 701 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in GE Vernova by 18.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 45,488 shares of the company’s stock worth $14,963,000 after buying an additional 7,099 shares during the last quarter. Daymark Wealth Partners LLC grew its position in GE Vernova by 9.6% in the fourth quarter. Daymark Wealth Partners LLC now owns 6,168 shares of the company’s stock worth $2,029,000 after acquiring an additional 540 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of GE Vernova by 200.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 123,027 shares of the company’s stock worth $40,478,000 after purchasing an additional 82,025 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in shares of GE Vernova by 11.6% during the 4th quarter. Simon Quick Advisors LLC now owns 1,815 shares of the company’s stock valued at $597,000 after purchasing an additional 188 shares in the last quarter. Finally, Sheets Smith Wealth Management bought a new position in shares of GE Vernova during the 4th quarter valued at $666,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating for the company. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Finally, Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $337.48.

GE Vernova Stock Up 2.4 %

GEV opened at $437.37 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm’s 50-day simple moving average is $349.37 and its 200-day simple moving average is $269.42.

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 the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

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

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.23%.

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.