Leavell Investment Management Inc. Has $2.09 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Leavell Investment Management Inc. grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 70.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 6,347 shares of the company’s stock after acquiring an additional 2,624 shares during the quarter. Leavell Investment Management Inc.’s holdings in GE Vernova were worth $2,089,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares in the last quarter. Castleview Partners LLC bought a new stake in shares of GE Vernova during the 3rd quarter worth approximately $28,000. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova during the 3rd quarter worth approximately $31,000.

GE Vernova Trading Down 0.8 %

GEV opened at $369.76 on Thursday. The company has a fifty day moving average price of $360.36 and a two-hundred day moving average price of $290.17. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The company has a market cap of $101.92 billion and a P/E ratio of 66.50.

GE Vernova (NYSE:GEV) last issued its earnings results 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have weighed in on GEV. Truist Financial upped their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group upped their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research report on Friday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given 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 $346.22.

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.