First PREMIER Bank Lowers Stake in GE Vernova Inc. (NYSE:GEV)

First PREMIER Bank decreased its position in GE Vernova Inc. (NYSE:GEV) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 813 shares of the company’s stock after selling 64 shares during the quarter. First PREMIER Bank’s holdings in GE Vernova were worth $268,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new stake in GE Vernova during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of GE Vernova in the second quarter valued at $29,000. Covestor Ltd boosted its holdings 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 during the period. Darwin Wealth Management LLC purchased a new stake in GE Vernova during the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised its holdings in 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 acquiring an additional 77 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on GEV shares. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group upped their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Seven investment 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 stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.85.

GE Vernova Trading Up 2.6 %

Shares of NYSE GEV opened at $426.84 on Thursday. The firm has a 50-day moving average price of $349.37 and a 200 day moving average price of $269.42. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $434.10.

GE Vernova (NYSE:GEV) last announced 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 return on equity of 4.22% and a net margin of 3.67%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 1.96 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

GE Vernova announced that its board has approved a stock repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.