PFG Investments LLC Grows Stake in GE Vernova Inc. (NYSE:GEV)

PFG Investments LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 8.3% during the 4th quarter, HoldingsChannel reports. The firm owned 7,303 shares of the company’s stock after acquiring an additional 557 shares during the quarter. PFG Investments LLC’s holdings in GE Vernova were worth $2,402,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. raised its position in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares during the period. Hengehold Capital Management LLC grew its stake in shares of GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares in the last quarter. Mutual Advisors LLC grew its stake in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after acquiring an additional 31 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its stake in shares of GE Vernova by 28.0% during the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock valued at $41,000 after acquiring an additional 35 shares in the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $419.27 on Monday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market cap of $115.57 billion and a price-to-earnings ratio of 75.41. The firm’s 50 day moving average price is $353.38 and its two-hundred day moving average price is $272.98.

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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. HSBC restated a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Eight 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. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.73.

About GE Vernova

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.