Harel Insurance Investments & Financial Services Ltd. Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

Harel Insurance Investments & Financial Services Ltd. lowered its position in GE Vernova Inc. (NYSE:GEV) by 74.2% during the fourth quarter, HoldingsChannel reports. The firm owned 81 shares of the company’s stock after selling 233 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in GE Vernova were worth $27,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Legal & General Group Plc acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $293,699,000. International Assets Investment Management LLC lifted its stake in GE Vernova by 35,238.2% during the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC grew its stake in GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of GE Vernova by 4,735.0% in the second quarter. Point72 Asset Management L.P. now owns 725,250 shares of the company’s stock valued at $124,388,000 after acquiring an additional 710,250 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Stock Performance

NYSE GEV opened at $419.27 on Monday. The firm has a market capitalization of $115.57 billion and a price-to-earnings ratio of 75.41. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company’s 50 day moving average price is $353.38 and its 200 day moving average price is $272.98.

GE Vernova (NYSE:GEV) last issued its 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has approved 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 purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.