CapWealth Advisors LLC decreased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,221 shares of the company's stock after selling 1,659 shares during the period. GE Vernova accounts for approximately 2.2% of CapWealth Advisors LLC's holdings, making the stock its 19th largest position. CapWealth Advisors LLC's holdings in GE Vernova were worth $20,466,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% during 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 raised its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $28,000. Covestor Ltd grew its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after buying an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth $31,000.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Citigroup raised their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating and set a $380.00 price target on the stock. in a research report on Friday, January 24th. Barclays upped their price objective on GE Vernova from $420.00 to $487.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Finally, William Blair reiterated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.13.
Read Our Latest Stock Report on GEV
GE Vernova Stock Up 1.4 %
Shares of NYSE:GEV traded up $5.00 during trading on Tuesday, reaching $372.59. 2,405,847 shares of the company traded hands, compared to its average volume of 3,694,381. The firm has a market capitalization of $102.70 billion and a PE ratio of 67.01. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company's 50 day moving average is $362.38 and its two-hundred day moving average is $295.72.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova's dividend payout ratio (DPR) is 17.99%.
GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.
GE Vernova Profile
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Free Report)
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.
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