Atria Wealth Solutions Inc. Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Atria Wealth Solutions Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,949 shares of the company’s stock after buying an additional 2,437 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in GE Vernova were worth $4,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Castleview Partners LLC acquired a new position in GE Vernova during the third quarter worth about $28,000. Covestor Ltd grew its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth about $31,000.

GE Vernova Stock Up 0.4 %

NYSE:GEV opened at $374.87 on Thursday. The company has a market cap of $103.43 billion and a P/E ratio of 67.42. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm’s 50 day moving average is $363.90 and its two-hundred day moving average is $297.73.

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

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

GE Vernova Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GEV shares. BMO Capital Markets increased their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Wells Fargo & Company increased their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

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.