Aviva PLC trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 47.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,479 shares of the company's stock after selling 148,891 shares during the period. Aviva PLC owned approximately 0.06% of GE Vernova worth $54,431,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $25,000. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova in the fourth quarter valued at about $30,000.
GE Vernova Stock Performance
Shares of GEV traded up $39.85 during mid-day trading on Wednesday, hitting $326.74. 7,477,361 shares of the stock were exchanged, compared to its average volume of 3,433,367. The company has a market cap of $89.31 billion and a PE ratio of 58.77. GE Vernova Inc. has a 52-week low of $128.25 and a 52-week high of $447.50. The firm has a 50-day moving average of $328.44 and a two-hundred day moving average of $326.80.
GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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 business had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
GE Vernova Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is 17.99%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GEV shares. Truist Financial set a $440.00 price target on GE Vernova in a research note on Thursday, March 27th. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Susquehanna initiated coverage on shares of GE Vernova in a research report on Wednesday, April 2nd. They set a "positive" rating and a $370.00 price objective for the company. Finally, BMO Capital Markets decreased their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $349.20.
Read Our Latest Stock Analysis on GEV
GE Vernova Company Profile
(
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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