Vontobel Holding Ltd. Sells 3,522 Shares of GE Vernova Inc. (NYSE:GEV)

Vontobel Holding Ltd. lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,036 shares of the company’s stock after selling 3,522 shares during the period. Vontobel Holding Ltd.’s holdings in GE Vernova were worth $3,301,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GEV. Cedar Mountain Advisors LLC boosted its stake 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 acquiring an additional 39 shares in the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Castleview Partners LLC bought a new stake in GE Vernova during the third quarter worth about $28,000. Covestor Ltd boosted its stake in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in GE Vernova during the third quarter worth about $31,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $367.43 on Monday. The firm has a fifty day moving average price of $361.74 and a 200-day moving average price of $293.55. The stock has a market cap of $101.37 billion and a PE ratio of 66.08. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has authorized 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 buy up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday. They issued an “outperform” rating and a $448.00 target price on the stock. TD Cowen assumed coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.