Ingalls & Snyder LLC Has $1.51 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Ingalls & Snyder LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 146.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,593 shares of the company’s stock after buying an additional 2,730 shares during the quarter. Ingalls & Snyder LLC’s holdings in GE Vernova were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in GEV. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. Pineridge Advisors LLC lifted its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Castleview Partners LLC bought a new stake in GE Vernova in the third quarter worth $28,000. Covestor Ltd increased its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in GE Vernova during the third quarter valued at about $31,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $370.45 on Friday. The business’s fifty day moving average price is $360.87 and its two-hundred day moving average price is $290.73. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock has a market capitalization of $102.11 billion and a price-to-earnings ratio of 66.63.

GE Vernova (NYSE:GEV) last posted 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. Barclays increased their price target on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Finally, Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $350.13.

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.