Rialto Wealth Management LLC Makes New $66,000 Investment in GE Vernova Inc. (NYSE:GEV)

Rialto Wealth Management LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 200 shares of the company’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howard Capital Management Group LLC acquired a new stake in GE Vernova in the third quarter valued at approximately $213,000. Leavell Investment Management Inc. lifted its stake in shares of GE Vernova by 181.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 3,723 shares of the company’s stock valued at $949,000 after acquiring an additional 2,402 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at $296,000. SpiderRock Advisors LLC grew its position in GE Vernova by 11.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 1,875 shares of the company’s stock worth $478,000 after acquiring an additional 199 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in GE Vernova by 1,280.4% in the 3rd quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock worth $1,961,000 after purchasing an additional 7,132 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on GEV. Citigroup lifted their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Morgan Stanley lifted their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $347.83.

GE Vernova Trading Down 1.5 %

Shares of NYSE GEV opened at $288.90 on Monday. The firm has a market capitalization of $79.71 billion and a P/E ratio of 51.96. The firm’s 50-day moving average price is $360.05 and its 200-day moving average price is $310.59. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

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