Triasima Portfolio Management inc. Lowers Position in GE Vernova Inc. (NYSE:GEV)

Triasima Portfolio Management inc. cut its stake in GE Vernova Inc. (NYSE:GEV) by 22.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,340 shares of the company’s stock after selling 3,595 shares during the quarter. Triasima Portfolio Management inc.’s holdings in GE Vernova were worth $4,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its holdings in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Castleview Partners LLC purchased a new stake in GE Vernova in the third quarter worth about $28,000. Covestor Ltd lifted its holdings in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC purchased a new stake in GE Vernova in the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC lifted 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 worth $31,000 after buying an additional 77 shares during the period.

GE Vernova Trading Up 1.8 %

NYSE:GEV opened at $374.67 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market cap of $103.28 billion and a PE ratio of 67.39. The company has a 50 day simple moving average of $357.71 and a two-hundred day simple moving average of $284.04.

GE Vernova (NYSE:GEV) last posted 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 return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analyst Weigh In

Several brokerages have commented on GEV. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Evercore ISI lifted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a report on Friday, January 24th. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $346.22.

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.