MinichMacGregor Wealth Management LLC Buys 540 Shares of GE Vernova Inc. (NYSE:GEV)

MinichMacGregor Wealth Management LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 24.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,726 shares of the company’s stock after purchasing an additional 540 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in GE Vernova were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. Castleview Partners LLC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC bought a new position in shares of GE Vernova during the second quarter valued at $29,000. Covestor Ltd raised its stake in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC increased its stake in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $426.84 on Thursday. The stock’s fifty day simple moving average is $349.37 and its two-hundred day simple moving average is $269.42. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $434.10.

GE Vernova (NYSE:GEV) last released 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 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. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on GEV shares. HSBC reissued a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Guggenheim dropped their target price on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Oppenheimer initiated coverage on GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating for the company. Wells Fargo & Company upped their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $329.44.

GE Vernova 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.