Sierra Ocean LLC Invests $55,000 in GE Vernova Inc. (NYSE:GEV)

Sierra Ocean LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 168 shares of the company’s stock, valued at approximately $55,000.

Other institutional investors also recently modified their holdings of the company. Monument Capital Management bought a new position in shares of GE Vernova during the 4th quarter worth approximately $210,000. J.W. Cole Advisors Inc. raised its position in GE Vernova by 36.3% in the 4th quarter. J.W. Cole Advisors Inc. now owns 4,667 shares of the company’s stock valued at $1,535,000 after purchasing an additional 1,244 shares during the last quarter. Valmark Advisers Inc. raised its position in GE Vernova by 3.5% in the 4th quarter. Valmark Advisers Inc. now owns 2,424 shares of the company’s stock valued at $797,000 after purchasing an additional 81 shares during the last quarter. WD Rutherford LLC raised its position in GE Vernova by 85.5% in the 4th quarter. WD Rutherford LLC now owns 1,734 shares of the company’s stock valued at $570,000 after purchasing an additional 799 shares during the last quarter. Finally, Tcfg Wealth Management LLC bought a new position in GE Vernova in the 4th quarter valued at $210,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GEV shares. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Performance

Shares of GEV opened at $367.43 on Tuesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The stock has a 50 day moving average price of $361.74 and a two-hundred day moving average price of $294.36. The firm has a market capitalization of $101.28 billion and a P/E ratio of 66.08.

GE Vernova (NYSE:GEV) last posted 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its board has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.