Heritage Investors Management Corp Has $1.78 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Heritage Investors Management Corp cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,417 shares of the company’s stock after selling 106 shares during the period. Heritage Investors Management Corp’s holdings in GE Vernova were worth $1,782,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Waverton Investment Management Ltd boosted its position in GE Vernova by 10.0% during 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 during the last quarter. Register Financial Advisors LLC acquired a new position in GE Vernova during the fourth quarter valued at approximately $206,000. Hanlon Investment Management Inc. acquired a new position in GE Vernova during the third quarter valued at approximately $1,101,000. Atria Investments Inc boosted its position in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its position in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the last quarter.

GE Vernova Price Performance

GE Vernova stock opened at $325.64 on Friday. The stock’s fifty day moving average price is $363.98 and its two-hundred day moving average price is $303.53. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The firm has a market cap of $89.84 billion and a PE ratio of 58.57.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GEV shares. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. Wolfe Research initiated coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday, January 24th. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova presently 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.