Vontobel Holding Ltd. Lowers Stake in GE Vernova Inc. (NYSE:GEV)

Vontobel Holding Ltd. lessened its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 26.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,036 shares of the company's stock after selling 3,522 shares during the period. Vontobel Holding Ltd.'s holdings in GE Vernova were worth $3,301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Armstrong Advisory Group Inc. increased its holdings in GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after acquiring an additional 27 shares during the period. Hengehold Capital Management LLC increased its holdings in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock worth $405,000 after buying an additional 29 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock valued at $888,000 after purchasing an additional 31 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of GE Vernova by 28.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock valued at $41,000 after purchasing an additional 35 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock traded down $15.63 during trading hours on Thursday, reaching $359.57. The company had a trading volume of 3,453,052 shares, compared to its average volume of 3,625,761. The business has a fifty day moving average price of $363.90 and a 200-day moving average price of $297.73. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The firm has a market cap of $99.21 billion and a PE ratio of 64.67.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 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 company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company's revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. GE Vernova's dividend payout ratio is presently 17.99%.

GE Vernova declared that its board has initiated a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Robert W. Baird began coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an "outperform" rating and a $448.00 price target for the company. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Finally, Johnson Rice began coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a "buy" rating and a $425.00 target price 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. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average 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.