GE Vernova Inc. (NYSE:GEV) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 1.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,797 shares of the company’s stock after selling 46 shares during the quarter. Cigna Investments Inc. New’s holdings in GE Vernova were worth $920,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of GE Vernova by 24.2% in the third quarter. CWM LLC now owns 11,037 shares of the company’s stock valued at $2,814,000 after purchasing an additional 2,149 shares during the period. Annex Advisory Services LLC purchased a new position in shares of GE Vernova in the third quarter valued at approximately $253,000. Carnegie Investment Counsel boosted its stake in shares of GE Vernova by 172.4% in the third quarter. Carnegie Investment Counsel now owns 19,157 shares of the company’s stock valued at $4,885,000 after purchasing an additional 12,125 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of GE Vernova by 628.5% in the third quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock valued at $970,000 after purchasing an additional 3,281 shares during the period. Finally, CHICAGO TRUST Co NA boosted its stake in shares of GE Vernova by 86.8% in the third quarter. CHICAGO TRUST Co NA now owns 2,653 shares of the company’s stock valued at $676,000 after purchasing an additional 1,233 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GEV shares. Morgan Stanley raised their price objective 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. Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Price Performance

NYSE:GEV opened at $384.71 on Tuesday. The firm’s fifty day moving average price is $358.59 and its 200 day moving average price is $287.18. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market cap of $106.04 billion and a price-to-earnings ratio of 69.19.

GE Vernova (NYSE:GEV) last issued 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 analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova declared that its board has initiated a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is 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.