Janney Montgomery Scott LLC Has $14.96 Million Stake in GE Vernova Inc. (NYSE:GEV)

Janney Montgomery Scott LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,488 shares of the company’s stock after purchasing an additional 7,099 shares during the period. Janney Montgomery Scott LLC’s holdings in GE Vernova were worth $14,963,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GEV. Daymark Wealth Partners LLC raised its position in shares of GE Vernova by 9.6% in the fourth quarter. Daymark Wealth Partners LLC now owns 6,168 shares of the company’s stock valued at $2,029,000 after purchasing an additional 540 shares during the period. Nisa Investment Advisors LLC raised its position in GE Vernova by 200.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 123,027 shares of the company’s stock worth $40,478,000 after purchasing an additional 82,025 shares in the last quarter. Simon Quick Advisors LLC lifted its position in shares of GE Vernova by 11.6% during the 4th quarter. Simon Quick Advisors LLC now owns 1,815 shares of the company’s stock worth $597,000 after buying an additional 188 shares during the period. Sheets Smith Wealth Management acquired a new stake in shares of GE Vernova in the 4th quarter valued at $666,000. Finally, Beaumont Financial Advisors LLC bought a new stake in GE Vernova during the fourth quarter worth about $300,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEV. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research note on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. HSBC reissued 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. Finally, BMO Capital Markets lifted their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Trading Down 4.2 %

NYSE:GEV opened at $419.27 on Monday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The firm has a market capitalization of $115.57 billion and a PE ratio of 75.41. The stock has a 50 day moving average of $353.38 and a 200-day moving average of $272.98.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

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

GE Vernova Announces Dividend

The firm 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.24%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova Company 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.