Investment Research & Advisory Group Inc. Cuts Stock Position in GE Vernova Inc. (NYSE:GEV)

Investment Research & Advisory Group Inc. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,613 shares of the company’s stock after selling 156 shares during the period. Investment Research & Advisory Group Inc.’s holdings in GE Vernova were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova in the third quarter worth about $2,507,296,000. Legal & General Group Plc purchased a new position in GE Vernova in the 2nd quarter worth approximately $293,699,000. International Assets Investment Management LLC grew its position in GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after acquiring an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of GE Vernova by 4,735.0% during the second quarter. Point72 Asset Management L.P. now owns 725,250 shares of the company’s stock valued at $124,388,000 after purchasing an additional 710,250 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday. Hsbc Global Res lowered GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a research report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

GE Vernova Price Performance

Shares of NYSE GEV opened at $419.27 on Friday. The firm has a market capitalization of $115.57 billion and a PE ratio of 75.41. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The business’s fifty day moving average price is $353.38 and its two-hundred day moving average price is $272.29.

GE Vernova (NYSE:GEV) last released 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are 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.