Vestmark Advisory Solutions Inc. Invests $253,000 in GE Vernova Inc. (NYSE:GEV)

Vestmark Advisory Solutions Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 770 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors have also recently made changes to their positions in the business. Freestone Capital Holdings LLC lifted its stake in shares of GE Vernova by 9.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 3,063 shares of the company’s stock worth $1,008,000 after purchasing an additional 255 shares during the period. Lindbrook Capital LLC raised its stake in GE Vernova by 2.4% during the 4th quarter. Lindbrook Capital LLC now owns 1,768 shares of the company’s stock worth $582,000 after acquiring an additional 42 shares during the period. Raymond James Financial Inc. bought a new stake in GE Vernova during the 4th quarter worth approximately $219,187,000. Vision Financial Markets LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $88,000. Finally, Cullen Frost Bankers Inc. raised its stake in GE Vernova by 552.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 20,187 shares of the company’s stock worth $6,640,000 after acquiring an additional 17,093 shares during the period.

GE Vernova Stock Down 1.5 %

GEV stock opened at $288.90 on Monday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $79.71 billion and a price-to-earnings ratio of 51.96. The firm’s fifty day simple moving average is $360.05 and its two-hundred day simple moving average is $310.59.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is presently 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.

Analysts Set New Price Targets

GEV has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. 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 on the stock. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $347.83.

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.