Rhumbline Advisers Sells 1,586 Shares of GE Vernova Inc. (NYSE:GEV)

Rhumbline Advisers reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,863 shares of the company's stock after selling 1,586 shares during the period. Rhumbline Advisers owned 0.17% of GE Vernova worth $153,565,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. raised its stake in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC lifted its stake in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC lifted its stake in GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after acquiring an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its stake in GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after acquiring an additional 31 shares in the last quarter.

GE Vernova Stock Up 0.4 %

Shares of NYSE GEV traded up $1.62 during mid-day trading on Wednesday, reaching $374.87. 1,650,315 shares of the company were exchanged, compared to its average volume of 3,630,538. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $103.43 billion and a P/E ratio of 67.42. The company's 50-day simple moving average is $363.28 and its 200-day simple moving average is $297.19.

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 (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 during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders 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 yield of 0.27%. GE Vernova's payout ratio is 17.99%.

Analysts Set New Price Targets

A number of analysts have issued reports on GEV shares. Morgan Stanley lifted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. JPMorgan Chase & Co. raised 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. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 price target on the stock. Finally, CICC Research initiated coverage on GE Vernova in a research report on Wednesday. They issued an "outperform" rating 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.