Amalgamated Bank Sells 1,539 Shares of GE Vernova Inc. (NYSE:GEV)

Amalgamated Bank lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,667 shares of the company’s stock after selling 1,539 shares during the quarter. Amalgamated Bank’s holdings in GE Vernova were worth $17,653,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Avalon Capital Management raised its stake in shares of GE Vernova by 43.0% in the fourth quarter. Avalon Capital Management now owns 1,680 shares of the company’s stock valued at $553,000 after purchasing an additional 505 shares in the last quarter. FourThought Financial Partners LLC acquired a new position in GE Vernova during the fourth quarter worth $212,000. Exchange Capital Management Inc. bought a new stake in shares of GE Vernova during the fourth quarter worth $218,000. Pine Valley Investments Ltd Liability Co grew its holdings in shares of GE Vernova by 9.8% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 4,970 shares of the company’s stock worth $1,635,000 after purchasing an additional 443 shares during the last quarter. Finally, Rothschild Investment LLC grew its holdings in shares of GE Vernova by 2.8% during the fourth quarter. Rothschild Investment LLC now owns 1,932 shares of the company’s stock worth $635,000 after purchasing an additional 53 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. 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 research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley increased their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Trading Down 3.7 %

NYSE:GEV opened at $315.74 on Tuesday. The stock has a market cap of $87.11 billion and a P/E ratio of 56.79. The stock has a 50 day simple moving average of $363.97 and a 200 day simple moving average of $302.17. 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 for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued 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 0.32%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.