Silverlake Wealth Management LLC Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Silverlake Wealth Management LLC trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 833 shares of the company’s stock after selling 100 shares during the quarter. Silverlake Wealth Management LLC’s holdings in GE Vernova were worth $274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new position in GE Vernova during the 3rd quarter worth $28,000. Riggs Asset Managment Co. Inc. grew its stake in GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter. Covestor Ltd grew its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova during the 3rd quarter worth $31,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Wells Fargo & Company upped their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Barclays upped their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $342.94.

GE Vernova Stock Up 3.1 %

GEV opened at $367.43 on Thursday. The business has a 50 day moving average price of $356.29 and a two-hundred day moving average price of $282.82. The company has a market cap of $101.28 billion and a PE ratio of 66.08. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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.