Choreo LLC Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Choreo LLC reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 40.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,692 shares of the company’s stock after selling 7,984 shares during the quarter. Choreo LLC’s holdings in GE Vernova were worth $3,858,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. State Street Corp increased its position in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the third quarter worth approximately $2,507,296,000. Geode Capital Management LLC raised its stake in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in shares of GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares during the last quarter.

GE Vernova Price Performance

GEV opened at $367.43 on Thursday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The stock has a market capitalization of $101.28 billion and a PE ratio of 66.08. The firm’s fifty day moving average price is $356.29 and its 200 day moving average price is $282.82.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis 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 announced that its board has initiated 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 purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. The Goldman Sachs Group raised their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

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.