GE Vernova Inc. (NYSE:GEV) Shares Purchased by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,662 shares of the company’s stock after purchasing an additional 75 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in GE Vernova were worth $876,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Waverton Investment Management Ltd grew its holdings in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after acquiring an additional 66,455 shares during the period. Register Financial Advisors LLC purchased a new position in shares of GE Vernova in the fourth quarter valued at $206,000. Hanlon Investment Management Inc. purchased a new position in shares of GE Vernova in the third quarter valued at $1,101,000. Atria Investments Inc grew its stake 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 during the last quarter. Finally, Fractal Investments LLC purchased a new position in GE Vernova during the 3rd quarter valued at about $1,530,000.

GE Vernova Price Performance

NYSE GEV opened at $354.80 on Wednesday. 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 $97.80 billion and a P/E 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 (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 6.61 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 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 dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analysts Set New Price Targets

Several brokerages have issued reports on GEV. Jefferies Financial Group upped their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday. Finally, HSBC reiterated a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

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.