GE Vernova Inc. (NYSE:GEV) Shares Sold by True North Advisors LLC

True North Advisors LLC decreased its stake in GE Vernova Inc. (NYSE:GEV) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,925 shares of the company’s stock after selling 362 shares during the period. True North Advisors LLC’s holdings in GE Vernova were worth $1,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the third quarter valued at $2,507,296,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $293,699,000. Electron Capital Partners LLC grew its stake in GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after buying an additional 1,596,996 shares during the last quarter. Lone Pine Capital LLC acquired a new position in GE Vernova during the second quarter worth approximately $253,322,000. Finally, International Assets Investment Management LLC lifted its stake in GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after buying an additional 1,431,729 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GEV shares. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Wednesday, December 11th. Citigroup upped their target price on shares of GE Vernova from $292.00 to $361.00 and gave the company a “neutral” rating in a report on Monday, December 9th. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Truist Financial increased their price objective on GE Vernova from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Price Performance

Shares of NYSE GEV opened at $426.84 on Thursday. The company’s 50-day moving average price is $347.50 and its 200 day moving average price is $268.31. GE Vernova Inc. has a 52 week low of $115.00 and a 52 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 analysts’ consensus estimates 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 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. Equities research analysts forecast that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

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

GE Vernova Announces Dividend

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

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.