Wesbanco Bank Inc. Sells 745 Shares of GE Vernova Inc. (NYSE:GEV)

Wesbanco Bank Inc. lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,991 shares of the company’s stock after selling 745 shares during the quarter. Wesbanco Bank Inc.’s holdings in GE Vernova were worth $4,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Castleview Partners LLC bought a new stake in GE Vernova during the 3rd quarter valued at approximately $28,000. Covestor Ltd increased 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 acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in GE Vernova in the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC increased its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp increased its stake in GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 130 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on GEV. HSBC reaffirmed a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Wednesday, December 11th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Guggenheim dropped their target price on GE Vernova from $400.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $326.85.

GE Vernova Trading Up 2.6 %

Shares of GEV stock opened at $426.84 on Thursday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $434.10. The stock has a fifty day simple moving average of $347.50 and a two-hundred day simple moving average of $268.31.

GE Vernova (NYSE:GEV) last issued its earnings results 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 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 4.22% and a net margin of 3.67%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 1.96 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Friday, December 20th.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.