Stonegate Investment Group LLC Sells 360 Shares of GE Vernova Inc. (NYSE:GEV)

Stonegate Investment Group LLC cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,590 shares of the company’s stock after selling 360 shares during the period. Stonegate Investment Group LLC’s holdings in GE Vernova were worth $1,839,000 as of its most recent SEC filing.

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

GE Vernova Price Performance

Shares of GE Vernova stock opened at $329.63 on Tuesday. The stock has a market cap of $90.86 billion and a PE ratio of 59.29. The firm has a fifty day moving average price of $353.38 and a 200 day moving average price of $273.64. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.61 EPS for the current 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 will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Barclays raised their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Finally, 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 research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.73.

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.