Braun Stacey Associates Inc. Cuts Position in GE Vernova Inc. (NYSE:GEV)

Braun Stacey Associates Inc. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 17.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,884 shares of the company’s stock after selling 7,607 shares during the period. Braun Stacey Associates Inc.’s holdings in GE Vernova were worth $11,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Atria Wealth Solutions Inc. increased its stake in GE Vernova by 21.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,949 shares of the company’s stock valued at $4,589,000 after purchasing an additional 2,437 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of GE Vernova by 98.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,159 shares of the company’s stock worth $381,000 after buying an additional 575 shares during the period. D.A. Davidson & CO. raised its stake in shares of GE Vernova by 11.1% during the fourth quarter. D.A. Davidson & CO. now owns 7,372 shares of the company’s stock worth $2,425,000 after purchasing an additional 738 shares during the last quarter. Empower Advisory Group LLC purchased a new stake in GE Vernova in the 4th quarter valued at approximately $241,000. Finally, Truist Financial Corp grew its stake in shares of GE Vernova by 10.3% during the 4th quarter. Truist Financial Corp now owns 75,958 shares of the company’s stock worth $24,985,000 after purchasing an additional 7,101 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Bank of America lifted their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. TD Cowen initiated coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Eight research 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’s stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Down 0.8 %

Shares of NYSE GEV opened at $367.43 on Tuesday. The business has a fifty day simple moving average of $361.74 and a 200-day simple moving average of $294.36. The company has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.