GE Vernova Inc. (NYSE:GEV) Stock Position Lowered by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lessened its stake in GE Vernova Inc. (NYSE:GEV) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,839 shares of the company’s stock after selling 87 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in GE Vernova were worth $605,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. increased its stake in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares during the period. Hengehold Capital Management LLC increased its stake in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC increased its stake in shares of GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in shares of GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter.

GE Vernova Stock Up 1.3 %

Shares of GE Vernova stock opened at $317.17 on Thursday. The stock has a market capitalization of $87.51 billion and a P/E ratio of 57.04. The company has a 50-day simple moving average of $361.95 and a 200 day simple moving average of $308.22. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last announced its 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). 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% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

GEV has been the topic of several analyst reports. Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Morgan Stanley increased their price target on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating on the stock. Finally, TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $347.83.

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.