GE Vernova Inc. (NYSE:GEV) Shares Acquired by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,662 shares of the company’s stock after purchasing an additional 75 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in GE Vernova were worth $876,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. Castleview Partners LLC purchased a new position in GE Vernova in the third quarter valued at $28,000. Pathway Financial Advisers LLC purchased a new position in GE Vernova in the second quarter valued at $29,000. Covestor Ltd grew its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova during the 3rd quarter worth about $31,000.

GE Vernova Stock Up 7.5 %

Shares of GEV stock opened at $354.80 on Wednesday. The stock’s 50-day moving average price is $353.47 and its 200 day moving average price is $274.72. The stock has a market capitalization of $97.80 billion and a PE ratio of 63.81. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

GEV has been the subject of several recent research reports. Evercore ISI lifted 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. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research note on Friday, January 24th. HSBC reissued a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

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.