Daymark Wealth Partners LLC Acquires 540 Shares of GE Vernova Inc. (NYSE:GEV)

Daymark Wealth Partners LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 9.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,168 shares of the company’s stock after purchasing an additional 540 shares during the period. Daymark Wealth Partners LLC’s holdings in GE Vernova were worth $2,029,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Armstrong Advisory Group Inc. grew its position in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares during the last quarter. Pittenger & Anderson Inc. increased its position in GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its stake in GE Vernova by 3.8% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 966 shares of the company’s stock valued at $318,000 after purchasing an additional 35 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its position in GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company’s stock valued at $400,000 after buying an additional 38 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. Wells Fargo & Company upped their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Finally, Citigroup upped their price target on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.85.

GE Vernova Stock Up 2.6 %

Shares of GE Vernova stock opened at $426.84 on Thursday. The business has a 50-day simple moving average of $347.50 and a 200 day simple moving average of $268.31. GE Vernova Inc. has a one year low of $115.00 and a one year high of $434.10.

GE Vernova (NYSE:GEV) last released 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 3.67% and a return on equity of 4.22%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 1.96 EPS for the current year.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.

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.