RFG Advisory LLC Invests $219,000 in GE Vernova Inc. (NYSE:GEV)

RFG Advisory LLC purchased a new stake in GE Vernova Inc. (NYSE:GEVFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 665 shares of the company’s stock, valued at approximately $219,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. Hengehold Capital Management LLC raised its stake in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares in the last quarter. Veracity Capital LLC bought a new stake in GE Vernova during the fourth quarter worth about $756,000. Secure Asset Management LLC grew its stake in GE Vernova by 103.5% during the fourth quarter. Secure Asset Management LLC now owns 2,637 shares of the company’s stock worth $867,000 after buying an additional 1,341 shares in the last quarter. Finally, Donoghue Forlines LLC bought a new position in GE Vernova in the 4th quarter valued at about $2,044,000.

GE Vernova Price Performance

Shares of GEV stock opened at $354.80 on Wednesday. The stock has a market capitalization of $97.80 billion and a PE ratio of 63.81. The business’s 50 day simple moving average is $353.47 and its 200 day simple moving average is $274.72. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEVGet Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current year.

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

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Morgan Stanley lifted their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Jefferies Financial Group upped their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $342.94.

Read Our Latest Stock Report on GE Vernova

GE Vernova Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEVFree Report).

Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

Receive News & Ratings for GE Vernova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GE Vernova and related companies with MarketBeat.com's FREE daily email newsletter.