Financial Perspectives Inc Has $126,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Financial Perspectives Inc grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 18.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 382 shares of the company’s stock after acquiring an additional 60 shares during the quarter. Financial Perspectives Inc’s holdings in GE Vernova were worth $126,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its stake in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. State Street Corp grew its holdings in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the third quarter worth about $2,507,296,000. Geode Capital Management LLC grew its holdings in shares of GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after purchasing an additional 1,161,901 shares during the last quarter.

GE Vernova Stock Up 1.4 %

Shares of NYSE GEV opened at $372.59 on Wednesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The business has a 50-day simple moving average of $363.28 and a two-hundred day simple moving average of $297.19. The company has a market cap of $102.80 billion and a P/E ratio of 67.01.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued 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 0.27%. GE Vernova’s dividend payout ratio is 17.99%.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Barclays upped their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.