MinichMacGregor Wealth Management LLC Buys 540 Shares of GE Vernova Inc. (NYSE:GEV)

MinichMacGregor Wealth Management LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,726 shares of the company’s stock after acquiring an additional 540 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in GE Vernova were worth $897,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GEV. American Century Companies Inc. bought a new stake in shares of GE Vernova during the second quarter worth approximately $4,940,000. XTX Topco Ltd acquired a new stake in GE Vernova during the 2nd quarter worth $383,000. Intech Investment Management LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $970,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of GE Vernova in the 2nd quarter worth $368,000. Finally, Pacer Advisors Inc. bought a new position in shares of GE Vernova in the 2nd quarter worth $3,317,000.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley lifted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a research note on Wednesday, December 11th. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Finally, Jefferies Financial Group upped their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $329.44.

GE Vernova Stock Up 2.6 %

Shares of NYSE GEV opened at $426.84 on Thursday. The stock’s fifty day moving average price is $349.37 and its two-hundred day moving average price is $269.42. GE Vernova Inc. has a one year low of $115.00 and a one year high of $434.10.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 3.67% and a return on equity of 4.22%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that GE Vernova Inc. will post 1.96 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid 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 declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors 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.