Good Life Advisors LLC Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Good Life Advisors LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 49.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,561 shares of the company's stock after selling 1,553 shares during the quarter. Good Life Advisors LLC's holdings in GE Vernova were worth $513,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Financial Perspectives Inc boosted its position in shares of GE Vernova by 18.6% during the 4th quarter. Financial Perspectives Inc now owns 382 shares of the company's stock worth $126,000 after purchasing an additional 60 shares in the last quarter. Global Retirement Partners LLC raised its stake in GE Vernova by 6.0% during the 4th quarter. Global Retirement Partners LLC now owns 4,776 shares of the company's stock worth $1,571,000 after buying an additional 269 shares during the period. DSM Capital Partners LLC boosted its holdings in GE Vernova by 0.6% in the fourth quarter. DSM Capital Partners LLC now owns 151,382 shares of the company's stock worth $49,794,000 after acquiring an additional 859 shares in the last quarter. Convergence Investment Partners LLC bought a new position in GE Vernova in the fourth quarter worth approximately $1,365,000. Finally, Bank of Jackson Hole Trust acquired a new stake in GE Vernova in the fourth quarter valued at approximately $83,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price objective on the stock. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 price objective for the company. 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's stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.13.

GE Vernova Price Performance

Shares of GEV traded down $32.00 during mid-day trading on Friday, hitting $327.68. The stock had a trading volume of 6,959,273 shares, compared to its average volume of 3,723,897. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The business has a fifty day moving average price of $364.50 and a 200-day moving average price of $298.16. The firm has a market cap of $90.41 billion and a P/E ratio of 58.93.

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). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid 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 payout ratio is currently 17.99%.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

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.