Register Financial Advisors LLC Buys New Stake in GE Vernova Inc. (NYSE:GEV)

Register Financial Advisors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 627 shares of the company's stock, valued at approximately $206,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its stake in GE Vernova by 2.5% in the 3rd 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 in the last quarter. State Street Corp increased its holdings in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova in the third quarter worth about $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 valued at $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in 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 last quarter.

GE Vernova Trading Down 21.6 %

Shares of GE Vernova stock traded down $90.87 on Monday, hitting $329.63. 13,333,318 shares of the company traded hands, compared to its average volume of 3,818,157. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company has a market cap of $90.86 billion and a PE ratio of 59.29. The stock's 50 day moving average price is $353.38 and its 200-day moving average price is $273.64.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova's dividend payout ratio (DPR) is 17.99%.

GE Vernova declared that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI lifted their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a report on Friday. Finally, 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 report on Thursday. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.73.

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.