GE Vernova Inc. (NYSE:GEV) Shares Sold by Certuity LLC

Certuity LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,322 shares of the company’s stock after selling 750 shares during the period. Certuity LLC’s holdings in GE Vernova were worth $6,027,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC increased its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Castleview Partners LLC purchased a new stake in GE Vernova during the 3rd quarter worth approximately $28,000. Covestor Ltd lifted its holdings in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in GE Vernova in the 3rd quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GEV shares. Truist Financial increased 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. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Finally, TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Trading Down 3.1 %

Shares of NYSE GEV opened at $373.13 on Wednesday. The stock has a market cap of $102.95 billion and a price-to-earnings ratio of 67.11. The company’s 50-day moving average price is $359.53 and its 200 day moving average price is $288.77. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last posted 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 company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.