Simon Quick Advisors LLC Increases Stake in GE Vernova Inc. (NYSE:GEV)

Simon Quick Advisors LLC raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,815 shares of the company’s stock after buying an additional 188 shares during the quarter. Simon Quick Advisors LLC’s holdings in GE Vernova were worth $597,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Castleview Partners LLC purchased a new stake in GE Vernova during the 3rd quarter valued at about $28,000. Covestor Ltd boosted its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC grew its position 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 valued at $31,000 after purchasing an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp lifted its position in GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GEV. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Truist Financial boosted their target price on shares of GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Guggenheim cut their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Evercore ISI upped their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $326.85.

GE Vernova Stock Up 2.6 %

Shares of GEV opened at $426.84 on Thursday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $434.10. The firm’s 50 day moving average price is $347.50 and its 200 day moving average price is $268.31.

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). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, December 20th.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board 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.