Sanctuary Advisors LLC Increases Holdings in GE Vernova Inc. (NYSE:GEV)

Sanctuary Advisors LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 45.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,948 shares of the company's stock after purchasing an additional 9,979 shares during the quarter. Sanctuary Advisors LLC's holdings in GE Vernova were worth $10,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% during the 4th 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. Castleview Partners LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at approximately $28,000. Covestor Ltd boosted its position in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 target price for the company. Wells Fargo & Company increased their target price on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Truist Financial increased their price target on GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $350.13.

GE Vernova Trading Down 8.9 %

Shares of GEV traded down $32.00 during midday trading on Friday, reaching $327.68. 6,959,273 shares of the stock were exchanged, 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 company's 50 day moving average is $364.50 and its two-hundred day moving average is $298.16. The company has a market capitalization of $90.41 billion and a P/E ratio of 58.93.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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 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. GE Vernova's revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Announces Dividend

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

GE Vernova 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.