Armstrong Fleming & Moore Inc Trims Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Armstrong Fleming & Moore Inc lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 10.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,114 shares of the company’s stock after selling 136 shares during the quarter. Armstrong Fleming & Moore Inc’s holdings in GE Vernova were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. increased its holdings in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC lifted its holdings in GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc boosted its position in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC grew its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in shares of GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after purchasing an additional 31 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $318.00 on Wednesday. The company’s fifty day moving average price is $363.77 and its 200 day moving average price is $303.15. The firm has a market capitalization of $87.74 billion and a P/E ratio of 57.19. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. GE Vernova’s payout ratio is 17.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GEV shares. Evercore ISI upped their price objective 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. Barclays boosted their price objective on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $350.13.

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.