GPS Wealth Strategies Group LLC Grows Stake in GE Vernova Inc. (NYSE:GEV)

GPS Wealth Strategies Group LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,126.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 895 shares of the company's stock after purchasing an additional 822 shares during the quarter. GPS Wealth Strategies Group LLC's holdings in GE Vernova were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp raised its position in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company's stock valued at $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $2,507,296,000. Geode Capital Management LLC boosted its stake in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock worth $1,420,763,000 after buying an additional 80,479 shares during the period. Finally, WCM Investment Management LLC boosted its position in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company's stock valued at $639,704,000 after buying an additional 1,161,901 shares during the period.

GE Vernova Stock Performance

Shares of NYSE GEV traded up $6.74 during trading on Thursday, reaching $374.67. The stock had a trading volume of 2,459,214 shares, compared to its average volume of 4,121,194. The company has a market cap of $103.28 billion and a P/E ratio of 67.39. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business's 50-day moving average price is $356.93 and its 200-day moving average price is $283.41.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results 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). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova announced that its board has authorized a share 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 buy up to 6.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova's dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

A number of analysts recently issued reports on GEV shares. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a report on Monday, October 21st. They issued a "buy" rating and a $354.00 price target for the company. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. BMO Capital Markets boosted their price objective on GE Vernova from $360.00 to $420.00 and gave the company an "outperform" rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.