Waverton Investment Management Ltd Cuts Position in GE Vernova Inc. (NYSE:GEV)

Waverton Investment Management Ltd lowered its position in GE Vernova Inc. (NYSE:GEV) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 615,729 shares of the company’s stock after selling 111,975 shares during the quarter. GE Vernova makes up about 3.2% of Waverton Investment Management Ltd’s holdings, making the stock its 13th biggest holding. Waverton Investment Management Ltd owned about 0.22% of GE Vernova worth $202,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the third quarter worth $2,507,296,000. WCM Investment Management LLC boosted its position in shares of GE Vernova by 83.1% during the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter. FMR LLC increased its holdings in shares of GE Vernova by 2.5% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after purchasing an additional 456,879 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GEV shares. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Stock Down 8.9 %

Shares of GEV opened at $327.68 on Monday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The company has a 50-day simple moving average of $364.41 and a 200-day simple moving average of $301.20. The company has a market capitalization of $90.41 billion and a PE ratio of 58.93.

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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

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

GE Vernova Announces Dividend

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

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.