GE Vernova Inc. (NYSE:GEV) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its stake in GE Vernova Inc. (NYSE:GEV) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 17,047 shares of the company’s stock after selling 330 shares during the quarter. Hartford Investment Management Co.’s holdings in GE Vernova were worth $5,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in GE Vernova by 628.5% during the third quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock worth $970,000 after acquiring an additional 3,281 shares during the period. Concourse Financial Group Securities Inc. grew its holdings in GE Vernova by 75.6% during the third quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock worth $1,264,000 after acquiring an additional 2,134 shares during the period. Koshinski Asset Management Inc. grew its holdings in GE Vernova by 100.5% during the third quarter. Koshinski Asset Management Inc. now owns 2,759 shares of the company’s stock worth $703,000 after acquiring an additional 1,383 shares during the period. Sound Income Strategies LLC increased its position in shares of GE Vernova by 59.3% in the third quarter. Sound Income Strategies LLC now owns 427 shares of the company’s stock valued at $109,000 after buying an additional 159 shares in the last quarter. Finally, Wesbanco Bank Inc. increased its position in shares of GE Vernova by 5.8% in the third quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock valued at $3,757,000 after buying an additional 802 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on GEV shares. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Stock Down 3.1 %

GE Vernova stock opened at $373.13 on Wednesday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a fifty day moving average of $359.53 and a 200-day moving average of $288.77. The firm has a market capitalization of $102.85 billion and a P/E ratio of 67.11.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm 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 business’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.