Stratos Wealth Advisors LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Stratos Wealth Advisors LLC increased its holdings in GE Vernova Inc. (NYSE:GEV) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,343 shares of the company’s stock after buying an additional 146 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in GE Vernova were worth $442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC boosted its holdings in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. Castleview Partners LLC purchased a new position in shares of GE Vernova in the third quarter worth approximately $28,000. Covestor Ltd boosted its holdings in shares of GE Vernova by 61.3% in 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. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC boosted its holdings 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 worth $31,000 after buying an additional 77 shares during the last quarter.

GE Vernova Stock Up 0.8 %

GEV stock opened at $377.99 on Friday. 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 $104.19 billion and a price-to-earnings ratio of 67.98. The firm’s fifty day simple moving average is $357.71 and its two-hundred day simple moving average is $284.04.

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 6.33 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. BMO Capital Markets raised their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Johnson Rice initiated coverage on shares of GE Vernova in a report on Friday. They set a “buy” rating and a $425.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

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.