Keene & Associates Inc. Sells 281 Shares of GE Vernova Inc. (NYSE:GEV)

Keene & Associates Inc. reduced its position in GE Vernova Inc. (NYSE:GEV) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,114 shares of the company’s stock after selling 281 shares during the period. Keene & Associates Inc.’s holdings in GE Vernova were worth $695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Creative Planning raised its stake in shares of GE Vernova by 11.4% in the third quarter. Creative Planning now owns 52,641 shares of the company’s stock worth $13,422,000 after purchasing an additional 5,382 shares during the last quarter. Howard Capital Management Group LLC purchased a new position in GE Vernova in the 3rd quarter worth about $213,000. Stratos Wealth Advisors LLC bought a new position in GE Vernova during the 3rd quarter valued at about $305,000. Blue Trust Inc. bought a new position in GE Vernova during the 3rd quarter valued at about $602,000. Finally, Resonant Capital Advisors LLC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at about $240,000.

Analyst Ratings Changes

GEV has been the subject of several research reports. Barclays boosted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Trading Up 1.4 %

Shares of GEV opened at $372.59 on Wednesday. The business’s 50 day moving average is $363.28 and its 200 day moving average is $297.19. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The company has a market capitalization of $102.80 billion and a PE ratio of 67.01.

GE Vernova (NYSE:GEV) last released 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 during 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%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. 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 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.