GE Vernova Inc. (NYSE:GEV) Shares Sold by Waverton Investment Management Ltd

Waverton Investment Management Ltd lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 615,729 shares of the company’s stock after selling 111,975 shares during the quarter. GE Vernova comprises about 3.2% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 13th biggest position. Waverton Investment Management Ltd’s holdings in GE Vernova were worth $202,676,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC raised its position 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 valued at $25,000 after buying an additional 39 shares during the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Covestor Ltd raised its holdings in 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 acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter worth $31,000. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Trading Down 8.9 %

Shares of GEV stock opened at $327.68 on Monday. The firm has a fifty day simple moving average of $364.41 and a 200-day simple moving average of $301.20. The company has a market capitalization of $90.41 billion and a PE ratio of 58.93. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays upped their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Morgan Stanley raised their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $350.13.

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.