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

Nwam LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 27.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,091 shares of the company’s stock after selling 3,043 shares during the period. Nwam LLC’s holdings in GE Vernova were worth $2,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new position in shares of GE Vernova during the fourth quarter worth $261,000. Oregon Public Employees Retirement Fund lifted its holdings in GE Vernova by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,633 shares of the company’s stock worth $7,774,000 after buying an additional 159 shares in the last quarter. Advisor OS LLC lifted its holdings in GE Vernova by 26.8% in the 4th quarter. Advisor OS LLC now owns 1,362 shares of the company’s stock worth $448,000 after buying an additional 288 shares in the last quarter. Longbow Finance SA acquired a new position in GE Vernova in the 4th quarter worth $8,964,000. Finally, Illinois Municipal Retirement Fund acquired a new position in GE Vernova in the 4th quarter worth $789,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. Barclays increased their price target on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research note on Friday, January 24th. Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Down 2.9 %

GEV stock opened at $325.64 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm’s 50-day simple moving average is $363.98 and its 200 day simple moving average is $303.53. The stock has a market cap of $89.84 billion and a PE ratio of 58.57.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast 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. Investors of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board 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.