GE Vernova Inc. (NYSE:GEV) Shares Sold by Nwam LLC

Nwam LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 27.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,091 shares of the company’s stock after selling 3,043 shares during the quarter. Nwam LLC’s holdings in GE Vernova were worth $2,661,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GEV. Armstrong Advisory Group Inc. grew its stake in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC grew its position in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after buying an additional 29 shares during the last quarter. AdvisorNet Financial Inc grew its position in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after buying an additional 30 shares during the last quarter. Mutual Advisors LLC grew its position in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after acquiring an additional 31 shares during the last quarter.

GE Vernova Stock Down 2.9 %

Shares of GEV opened at $325.64 on Friday. The company’s fifty day moving average is $363.98 and its 200-day moving average is $303.53. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The firm has a market cap of $89.84 billion and a price-to-earnings ratio of 58.57.

GE Vernova (NYSE:GEV) last posted its 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). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Johnson Rice began coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price 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.