Stonegate Investment Group LLC Trims Holdings in GE Vernova Inc. (NYSE:GEV)

Stonegate Investment Group LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 6.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,590 shares of the company’s stock after selling 360 shares during the quarter. Stonegate Investment Group LLC’s holdings in GE Vernova were worth $1,839,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Waverton Investment Management Ltd boosted its stake in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new stake in GE Vernova during the 4th quarter valued at approximately $206,000. Hanlon Investment Management Inc. purchased a new position in shares of GE Vernova during the 3rd quarter worth approximately $1,101,000. Atria Investments Inc lifted its stake in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the period. Finally, Fractal Investments LLC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $1,530,000.

Analyst Ratings Changes

Several equities analysts have commented on GEV shares. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Royal Bank of Canada restated an “outperform” rating and issued a $376.00 price objective on shares of GE Vernova in a report on Wednesday, December 11th. Truist Financial raised their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Price Performance

Shares of GEV opened at $329.63 on Tuesday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The business has a fifty day moving average of $353.38 and a 200 day moving average of $273.64. The firm has a market capitalization of $90.86 billion and a P/E ratio of 59.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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.