GE Vernova Inc. (NYSE:GEV) Shares Sold by Sachetta LLC

Sachetta LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 16.4% in the fourth quarter, HoldingsChannel reports. The firm owned 143 shares of the company’s stock after selling 28 shares during the quarter. Sachetta LLC’s holdings in GE Vernova were worth $47,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in shares of GE Vernova by 261.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 13,731 shares of the company’s stock worth $4,517,000 after acquiring an additional 9,928 shares in the last quarter. CX Institutional boosted its holdings in GE Vernova by 20.7% in the fourth quarter. CX Institutional now owns 1,858 shares of the company’s stock valued at $611,000 after purchasing an additional 319 shares during the period. Sound Income Strategies LLC grew its stake in GE Vernova by 13.3% during the 4th quarter. Sound Income Strategies LLC now owns 484 shares of the company’s stock worth $159,000 after purchasing an additional 57 shares in the last quarter. LexAurum Advisors LLC increased its holdings in GE Vernova by 38.6% during the 4th quarter. LexAurum Advisors LLC now owns 1,120 shares of the company’s stock worth $368,000 after purchasing an additional 312 shares during the period. Finally, RFG Advisory LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at about $219,000.

GE Vernova Price Performance

NYSE:GEV opened at $419.27 on Friday. The firm has a market cap of $115.57 billion and a price-to-earnings ratio of 75.41. The firm’s fifty day moving average price is $351.59 and its 200 day moving average price is $270.59. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly 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 firm had revenue of $10.56 billion for 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 revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.24%. GE Vernova’s dividend payout ratio is currently 17.99%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GEV. Morgan Stanley upped their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday. Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $376.00 price objective on shares of GE Vernova in a research report on Wednesday, December 11th. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

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.