Sanctuary Advisors LLC Boosts Stock Position in GE Vernova Inc. (NYSE:GEV)

Sanctuary Advisors LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 45.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,948 shares of the company’s stock after buying an additional 9,979 shares during the quarter. Sanctuary Advisors LLC’s holdings in GE Vernova were worth $10,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. Waverton Investment Management Ltd lifted its position in GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $206,000. Hanlon Investment Management Inc. bought a new position in GE Vernova in the 3rd quarter valued at approximately $1,101,000. Atria Investments Inc lifted its position in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its position in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Stock Performance

Shares of GEV stock opened at $372.59 on Wednesday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market capitalization of $102.70 billion and a PE ratio of 67.01. The stock has a fifty day simple moving average of $362.38 and a two-hundred day simple moving average of $295.72.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova’s payout ratio is 17.99%.

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

GE Vernova 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.