Vaughan Nelson Investment Management L.P. Sells 66,075 Shares of GE Vernova Inc. (NYSE:GEV)

Vaughan Nelson Investment Management L.P. decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 38.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,670 shares of the company’s stock after selling 66,075 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in GE Vernova were worth $34,429,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Quotient Wealth Partners LLC lifted its position in shares of GE Vernova by 16.7% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,153 shares of the company’s stock worth $379,000 after purchasing an additional 165 shares during the period. Northeast Investment Management purchased a new position in shares of GE Vernova in the 4th quarter valued at approximately $204,000. AlphaStar Capital Management LLC acquired a new position in GE Vernova during the 4th quarter valued at approximately $271,000. Entropy Technologies LP acquired a new stake in GE Vernova during the 4th quarter valued at approximately $4,964,000. Finally, Empowered Funds LLC grew its position in GE Vernova by 61.0% during the 4th quarter. Empowered Funds LLC now owns 7,005 shares of the company’s stock worth $2,304,000 after purchasing an additional 2,653 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GEV shares. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Citigroup lifted their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Jefferies Financial Group raised their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Price Performance

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

GE Vernova (NYSE:GEV) last posted 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). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders 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 dividend yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.