SFE Investment Counsel Cuts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

SFE Investment Counsel lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,914 shares of the company’s stock after selling 726 shares during the period. SFE Investment Counsel’s holdings in GE Vernova were worth $2,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC lifted its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of GE Vernova during the third quarter valued at $28,000. Covestor Ltd increased its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in GE Vernova in the 3rd quarter worth about $31,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. The Goldman Sachs Group lifted 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. Citigroup increased their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Performance

NYSE GEV opened at $369.76 on Thursday. The stock has a 50 day moving average price of $360.87 and a 200-day moving average price of $290.73. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a market capitalization of $101.92 billion and a P/E ratio of 66.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) 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 repurchase $6.00 billion in shares. This repurchase authorization authorizes 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 board believes its shares are undervalued.

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.