True Vision MN LLC Sells 164 Shares of GE Vernova Inc. (NYSE:GEV)

True Vision MN LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,718 shares of the company’s stock after selling 164 shares during the period. True Vision MN LLC’s holdings in GE Vernova were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC increased its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Castleview Partners LLC bought a new stake in GE Vernova during the third quarter valued at approximately $28,000. Covestor Ltd grew its stake 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 bought a new position in shares of GE Vernova in the 3rd quarter worth $31,000.

GE Vernova Price Performance

GEV stock opened at $384.71 on Tuesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The business has a 50-day moving average price of $358.59 and a 200 day moving average price of $287.18. The company has a market capitalization of $106.04 billion and a P/E ratio of 69.19.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced 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. 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 0.26%. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Wells Fargo & Company raised their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $346.22.

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.