Hemington Wealth Management Purchases 38 Shares of GE Vernova Inc. (NYSE:GEV)

Hemington Wealth Management lifted its position in GE Vernova Inc. (NYSE:GEV) by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148 shares of the company’s stock after purchasing an additional 38 shares during the period. Hemington Wealth Management’s holdings in GE Vernova were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ingalls & Snyder LLC boosted its holdings in GE Vernova by 146.5% in the 4th quarter. Ingalls & Snyder LLC now owns 4,593 shares of the company’s stock worth $1,511,000 after buying an additional 2,730 shares during the period. Clarity Capital Partners LLC lifted its position in shares of GE Vernova by 10.0% in the fourth quarter. Clarity Capital Partners LLC now owns 1,481 shares of the company’s stock valued at $487,000 after acquiring an additional 135 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of GE Vernova in the fourth quarter worth about $641,000. Avidian Wealth Enterprises LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth about $204,000. Finally, Kentucky Trust Co bought a new stake in GE Vernova during the 4th quarter valued at approximately $174,000.

GE Vernova Trading Up 0.2 %

Shares of NYSE:GEV opened at $370.45 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market capitalization of $102.11 billion and a price-to-earnings ratio of 66.63. The firm’s 50-day moving average is $360.87 and its 200 day moving average is $290.73.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Citigroup boosted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $350.13.

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.