Sargent Investment Group LLC Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

Sargent Investment Group LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,943 shares of the company’s stock after purchasing an additional 298 shares during the period. Sargent Investment Group LLC’s holdings in GE Vernova were worth $1,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Castleview Partners LLC bought a new position in shares of GE Vernova during the third quarter valued at approximately $28,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after purchasing an additional 57 shares in the last quarter. Covestor Ltd boosted 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 purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of GE Vernova during the third quarter valued at approximately $31,000.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group raised their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. BMO Capital Markets raised their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Barclays raised their target price on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Stock Performance

GEV opened at $356.62 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a fifty day moving average of $355.93 and a two-hundred day moving average of $281.46. The stock has a market capitalization of $98.30 billion and a price-to-earnings ratio of 64.14.

GE Vernova (NYSE:GEV) last released 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 during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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.