Heritage Wealth Management Inc. Sells 75 Shares of GE Vernova Inc. (NYSE:GEV)

Heritage Wealth Management Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,006 shares of the company’s stock after selling 75 shares during the period. Heritage Wealth Management Inc.’s holdings in GE Vernova were worth $331,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its position in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the period. Hengehold Capital Management LLC lifted its position in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc lifted its position in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC lifted its position in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the period. Finally, WASHINGTON TRUST Co lifted its position in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GEV shares. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Barclays upped their price target on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Evercore ISI increased their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Price Performance

NYSE:GEV opened at $335.80 on Friday. The firm has a market capitalization of $92.65 billion and a P/E ratio of 60.40. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The company’s fifty day moving average price is $363.85 and its 200-day moving average price is $305.51.

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). The business had revenue of $10.56 billion during 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 company’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared 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 yield of 0.30%. GE Vernova’s dividend payout ratio is presently 17.99%.

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