Braun Stacey Associates Inc. Sells 7,607 Shares of GE Vernova Inc. (NYSE:GEV)

Braun Stacey Associates Inc. decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,884 shares of the company's stock after selling 7,607 shares during the period. Braun Stacey Associates Inc.'s holdings in GE Vernova were worth $11,803,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Asset Planning Inc purchased a new position in GE Vernova in the fourth quarter valued at approximately $35,000. Castleview Partners LLC purchased a new position in GE Vernova in the third quarter valued at approximately $28,000. Finally, Riggs Asset Managment Co. Inc. lifted its stake in GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock valued at $39,000 after purchasing an additional 57 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GEV shares. Truist Financial increased their target price on GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 target price on the stock. in a research report on Friday, January 24th. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their target price on GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $350.13.

GE Vernova Stock Performance

GEV traded down $32.00 during trading on Friday, reaching $327.68. The stock had a trading volume of 6,959,273 shares, compared to its average volume of 3,723,897. The stock has a market cap of $90.41 billion and a PE ratio of 58.93. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The business has a 50-day moving average of $364.41 and a 200-day moving average of $299.31.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

GE Vernova Announces Dividend

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

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.