Resolute Wealth Strategies LLC Invests $4.02 Million in GE Vernova Inc. (NYSE:GEV)

Resolute Wealth Strategies LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,214 shares of the company’s stock, valued at approximately $4,018,000. GE Vernova comprises approximately 2.1% of Resolute Wealth Strategies LLC’s investment portfolio, making the stock its 15th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the 3rd quarter worth $2,507,296,000. WCM Investment Management LLC lifted its holdings in 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 acquiring an additional 1,161,901 shares in the last quarter. FMR LLC lifted its holdings 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after acquiring an additional 456,879 shares in the last quarter.

GE Vernova Stock Down 6.0 %

Shares of NYSE GEV opened at $315.19 on Tuesday. The business’s 50 day moving average price is $363.25 and its two-hundred day moving average price is $307.25. The company has a market cap of $86.96 billion and a PE ratio of 56.69. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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 business 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 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock 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 buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Johnson Rice began coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $347.83.

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.