GE Vernova Inc. (NYSE:GEV) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,902 shares of the company’s stock after selling 89 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in GE Vernova were worth $3,257,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in GE Vernova during the fourth quarter valued at approximately $669,000. Aspiring Ventures LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $186,000. Fifth Third Bancorp increased its holdings in shares of GE Vernova by 3.3% during the 4th quarter. Fifth Third Bancorp now owns 87,578 shares of the company’s stock valued at $28,807,000 after purchasing an additional 2,785 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of GE Vernova in the 4th quarter valued at $1,645,000. Finally, Benin Management CORP lifted its stake in shares of GE Vernova by 19.5% in the 4th quarter. Benin Management CORP now owns 1,560 shares of the company’s stock valued at $513,000 after purchasing an additional 255 shares during the period.

GE Vernova Stock Performance

NYSE GEV opened at $419.27 on Friday. The stock’s fifty day moving average is $353.38 and its two-hundred day moving average is $272.29. The firm has a market capitalization of $115.57 billion and a P/E ratio of 75.41. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared 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 0.24%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analysts Set New Price Targets

A number of research analysts have weighed in on GEV shares. HSBC reaffirmed a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Evercore ISI upped their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Bank of America raised their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.73.

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.