Daymark Wealth Partners LLC Acquires 540 Shares of GE Vernova Inc. (NYSE:GEV)

Daymark Wealth Partners LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,168 shares of the company’s stock after buying an additional 540 shares during the period. Daymark Wealth Partners LLC’s holdings in GE Vernova were worth $2,029,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Castleview Partners LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth about $28,000. Pathway Financial Advisers LLC acquired a new position in GE Vernova during the second quarter valued at approximately $29,000. Covestor Ltd increased its stake in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in GE Vernova in the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC raised its stake in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the period.

GE Vernova Price Performance

GEV opened at $426.84 on Thursday. The stock has a fifty day moving average of $347.50 and a 200-day moving average of $268.31. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $434.10.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

GE Vernova announced that its board has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

GEV has been the topic of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Guggenheim lowered their price target on shares of GE Vernova from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Evercore ISI raised 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. Wells Fargo & Company upped their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Truist Financial increased their price target on GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $326.85.

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.