GE Vernova Inc. (NYSE:GEV) Stake Trimmed by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,773 shares of the company’s stock after selling 1,492 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in GE Vernova were worth $2,886,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have weighed in on GEV. TD Cowen assumed coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research note on Friday, January 24th. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Johnson Rice began coverage on shares of GE Vernova in a research report on Friday. They set a “buy” rating and a $425.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Trading Up 0.8 %

NYSE:GEV opened at $377.99 on Friday. The firm’s 50 day moving average is $358.59 and its 200 day moving average is $285.51. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock has a market capitalization of $104.19 billion and a PE ratio of 67.98.

GE Vernova (NYSE:GEV) last issued its 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). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved 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 reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.