Pineridge Advisors LLC Increases Holdings in GE Vernova Inc. (NYSE:GEV)

Pineridge Advisors LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 530.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82 shares of the company’s stock after purchasing an additional 69 shares during the period. Pineridge Advisors LLC’s holdings in GE Vernova were worth $27,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. International Private Wealth Advisors LLC acquired a new stake in GE Vernova in the fourth quarter valued at $248,000. Soltis Investment Advisors LLC raised its stake in shares of GE Vernova by 36.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,449 shares of the company’s stock worth $806,000 after buying an additional 654 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of GE Vernova in the 4th quarter worth about $52,000. Savant Capital LLC grew its stake in GE Vernova by 1.4% in the 4th quarter. Savant Capital LLC now owns 9,324 shares of the company’s stock valued at $3,067,000 after acquiring an additional 130 shares during the last quarter. Finally, Angeles Wealth Management LLC purchased a new position in GE Vernova during the 4th quarter valued at about $237,000.

GE Vernova Price Performance

NYSE GEV opened at $384.71 on Tuesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market capitalization of $106.04 billion and a P/E ratio of 69.19. The business’s 50-day simple moving average is $358.59 and its 200-day simple moving average is $287.18.

GE Vernova (NYSE:GEV) last announced 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 net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates 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 expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

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 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 yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Morgan Stanley boosted their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.