LexAurum Advisors LLC Acquires 312 Shares of GE Vernova Inc. (NYSE:GEV)

LexAurum Advisors LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 38.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,120 shares of the company’s stock after purchasing an additional 312 shares during the period. LexAurum Advisors LLC’s holdings in GE Vernova were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Castleview Partners LLC bought a new position in shares of GE Vernova during the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $29,000. Covestor Ltd increased its position in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC increased its position in shares of GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $419.27 on Friday. The company has a market capitalization of $115.57 billion and a price-to-earnings ratio of 75.41. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company’s fifty day moving average price is $351.59 and its 200-day moving average price is $270.59.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday. Morgan Stanley raised their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Finally, Citigroup raised their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $339.73.

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.