Jamison Private Wealth Management Inc. Has $697,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Jamison Private Wealth Management Inc. cut its holdings in GE Vernova Inc. (NYSE:GEV) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,119 shares of the company’s stock after selling 147 shares during the period. Jamison Private Wealth Management Inc.’s holdings in GE Vernova were worth $697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Waverton Investment Management Ltd raised its stake in shares of GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. acquired a new position in GE Vernova during the third quarter valued at approximately $1,101,000. Atria Investments Inc raised its position in shares of GE Vernova by 127.0% in the third 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. Fractal Investments LLC bought a new position in shares of GE Vernova in the third quarter valued at approximately $1,530,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova in the second quarter worth $293,699,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $419.27 on Friday. The stock has a market capitalization of $115.57 billion and a price-to-earnings ratio of 75.41. The business’s fifty day moving average price is $353.38 and its two-hundred day moving average price is $272.29. 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 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. Research analysts expect that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday. BMO Capital Markets boosted their price objective on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.