Modera Wealth Management LLC Decreases Stock Position in GE Vernova Inc. (NYSE:GEV)

Modera Wealth Management LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,784 shares of the company’s stock after selling 78 shares during the quarter. Modera Wealth Management LLC’s holdings in GE Vernova were worth $916,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Waverton Investment Management Ltd boosted its stake in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares during the period. Register Financial Advisors LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $206,000. Hanlon Investment Management Inc. bought a new position in shares of GE Vernova during the third quarter valued at approximately $1,101,000. Atria Investments Inc raised its holdings 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 worth $1,297,000 after buying an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after acquiring an additional 822 shares during the last quarter.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $315.19 on Tuesday. The firm has a 50-day simple moving average of $363.25 and a two-hundred day simple moving average of $307.25. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a market cap of $86.96 billion and a P/E ratio of 56.69.

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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has approved a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders 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 dividend yield of 0.32%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

Analysts Set New Price Targets

Several equities analysts have commented on GEV shares. 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 on the stock. Jefferies Financial Group upped their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Barclays dropped their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Citigroup raised their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Eight research 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 has a consensus rating of “Moderate Buy” and an average price target of $347.83.

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.