GE Vernova Inc. (NYSE:GEV) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,836 shares of the company’s stock after selling 38 shares during the quarter. Confluence Wealth Services Inc.’s holdings in GE Vernova were worth $604,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. Castleview Partners LLC purchased a new position in GE Vernova in the third quarter valued at $28,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after acquiring an additional 57 shares in the last quarter. Covestor Ltd increased its stake in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova in the third quarter valued at approximately $31,000.

Analysts Set New Price Targets

Several research firms have issued reports on GEV. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. BMO Capital Markets lifted their target price on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, Citigroup upped their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Price Performance

Shares of NYSE GEV opened at $367.43 on Thursday. The company has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08. The stock’s 50-day moving average is $356.29 and its two-hundred day moving average is $282.82. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued 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 0.27%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its Board of Directors has approved 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

GE Vernova Company 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.