Asio Capital LLC Trims Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Asio Capital LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,997 shares of the company’s stock after selling 199 shares during the quarter. Asio Capital LLC’s holdings in GE Vernova were worth $4,933,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans bought a new stake in shares of GE Vernova in the 2nd quarter worth about $2,339,000. Public Sector Pension Investment Board acquired a new position in GE Vernova in the second quarter worth about $1,800,000. Evergreen Capital Management LLC bought a new stake in GE Vernova in the second quarter valued at about $287,000. Insigneo Advisory Services LLC acquired a new stake in GE Vernova during the second quarter valued at approximately $275,000. Finally, Fred Alger Management LLC bought a new position in GE Vernova during the 2nd quarter worth approximately $459,000.

GE Vernova Stock Performance

GEV opened at $419.27 on Friday. The stock’s fifty day moving average is $353.38 and its 200-day moving average is $272.29. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a market capitalization of $115.57 billion and a PE ratio of 75.41.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 the consensus estimate 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% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share repurchase 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 typically a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently announced 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 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GEV. Royal Bank of Canada reiterated an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a report on Wednesday, December 11th. Morgan Stanley boosted their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. BMO Capital Markets boosted their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.73.

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.