Stock Yards Bank & Trust Co. Has $810,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Stock Yards Bank & Trust Co. decreased its stake in GE Vernova Inc. (NYSE:GEV) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464 shares of the company’s stock after selling 177 shares during the period. Stock Yards Bank & Trust Co.’s holdings in GE Vernova were worth $810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GEV. Waverton Investment Management Ltd grew its stake in GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new stake in shares of GE Vernova during the 4th quarter worth approximately $206,000. Hanlon Investment Management Inc. acquired a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $1,101,000. Atria Investments Inc grew its stake in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares in the last quarter. Finally, Fractal Investments LLC acquired a new position in GE Vernova during the third quarter worth $1,530,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on GEV shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research note on Tuesday, January 28th. Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $361.01 on Tuesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The firm has a market cap of $99.51 billion and a PE ratio of 64.93. The firm’s fifty day moving average is $355.29 and its 200-day moving average is $280.05.

GE Vernova (NYSE:GEV) last announced 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 for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.33 EPS 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 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 yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors 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.