Tandem Capital Management Corp ADV Has $3.78 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Tandem Capital Management Corp ADV lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,485 shares of the company’s stock after selling 246 shares during the period. GE Vernova comprises about 2.0% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 14th largest holding. Tandem Capital Management Corp ADV’s holdings in GE Vernova were worth $3,778,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Waverton Investment Management Ltd increased its position in shares of GE Vernova by 10.0% in the third 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 during the last quarter. Register Financial Advisors LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $206,000. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova during the 3rd quarter worth approximately $1,101,000. Atria Investments Inc boosted its holdings 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 buying an additional 2,847 shares during the last quarter. Finally, Fractal Investments LLC bought a new position in shares of GE Vernova in the third quarter valued at $1,530,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on GEV shares. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Truist Financial upped their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Finally, Barclays raised their price target on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Performance

GEV stock opened at $361.01 on Tuesday. The company has a market capitalization of $99.51 billion and a P/E ratio of 64.93. The company has a fifty day moving average price of $355.29 and a 200-day moving average price of $280.05. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last announced its 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 company 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 firm’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.