Empirical Finance LLC Trims Stake in GE Vernova Inc. (NYSE:GEV)

Empirical Finance LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,470 shares of the company’s stock after selling 109 shares during the period. Empirical Finance LLC’s holdings in GE Vernova were worth $2,786,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Atomi Financial Group Inc. boosted its holdings in shares of GE Vernova by 10.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,584 shares of the company’s stock valued at $404,000 after buying an additional 156 shares in the last quarter. Brookstone Capital Management increased its stake in shares of GE Vernova by 17.7% during the third quarter. Brookstone Capital Management now owns 4,466 shares of the company’s stock valued at $1,139,000 after purchasing an additional 671 shares in the last quarter. CWM LLC lifted its holdings in shares of GE Vernova by 24.2% during the third quarter. CWM LLC now owns 11,037 shares of the company’s stock valued at $2,814,000 after purchasing an additional 2,149 shares during the last quarter. Perpetual Ltd bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $219,000. Finally, UMB Bank n.a. grew its stake in shares of GE Vernova by 16.6% in the 3rd quarter. UMB Bank n.a. now owns 1,815 shares of the company’s stock worth $463,000 after buying an additional 258 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Stock Up 0.8 %

Shares of GE Vernova stock opened at $377.99 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The business has a 50-day moving average price of $358.59 and a 200-day moving average price of $285.51. The firm has a market cap of $104.19 billion and a price-to-earnings ratio of 67.98.

GE Vernova (NYSE:GEV) 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 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 analysts’ expectations of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued 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 0.26%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.