GE Vernova Inc. (NYSE:GEV) Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,177 shares of the company's stock after selling 687 shares during the quarter. GE Vernova accounts for approximately 2.1% of Summit Place Financial Advisors LLC's investment portfolio, making the stock its 13th largest holding. Summit Place Financial Advisors LLC's holdings in GE Vernova were worth $3,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GEV. FMR LLC raised its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp increased its holdings in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock valued at $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new position in GE Vernova in the third quarter worth approximately $2,507,296,000. Geode Capital Management LLC raised its stake in GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock worth $1,420,763,000 after buying an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company's stock worth $639,704,000 after buying an additional 1,161,901 shares during the period.

GE Vernova Stock Performance

NYSE GEV traded down $32.00 on Friday, reaching $327.68. 6,959,273 shares of the company's stock traded hands, compared to its average volume of 3,723,897. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market cap of $90.41 billion and a price-to-earnings ratio of 58.93. The stock has a 50 day moving average price of $364.41 and a 200-day moving average price of $299.31.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova's revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized 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 shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GEV shares. TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target on the stock. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price target for the company. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Finally, Evercore ISI boosted their price objective 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. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $350.13.

About GE Vernova

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.