GE Vernova Inc. (NYSE:GEV) Shares Sold by Essex LLC

Essex LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,367 shares of the company’s stock after selling 403 shares during the quarter. Essex LLC’s holdings in GE Vernova were worth $1,436,000 at the end of the most recent reporting period.

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

GE Vernova Price Performance

NYSE GEV opened at $377.99 on Friday. The company has a market capitalization of $104.19 billion and a price-to-earnings ratio of 67.98. The company’s fifty day moving average price is $358.59 and its two-hundred day moving average price is $285.51. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its 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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a dividend of $0.25 per share. 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 dividend payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GEV shares. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Friday, January 24th. Barclays boosted their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

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.