SG Americas Securities LLC Lowers Position in GE Vernova Inc. (NYSE:GEV)

SG Americas Securities LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 52.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,364 shares of the company’s stock after selling 17,025 shares during the period. SG Americas Securities LLC’s holdings in GE Vernova were worth $5,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Daymark Wealth Partners LLC grew its position in GE Vernova by 9.6% during the fourth quarter. Daymark Wealth Partners LLC now owns 6,168 shares of the company’s stock valued at $2,029,000 after buying an additional 540 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of GE Vernova by 200.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 123,027 shares of the company’s stock worth $40,478,000 after acquiring an additional 82,025 shares in the last quarter. Simon Quick Advisors LLC grew its position in shares of GE Vernova by 11.6% during the 4th quarter. Simon Quick Advisors LLC now owns 1,815 shares of the company’s stock valued at $597,000 after acquiring an additional 188 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of GE Vernova in the 4th quarter valued at about $666,000. Finally, Beaumont Financial Advisors LLC acquired a new position in GE Vernova in the 4th quarter worth about $300,000.

GE Vernova Stock Performance

GEV stock opened at $419.27 on Friday. The firm has a market cap of $115.57 billion and a PE ratio of 75.41. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The firm’s 50 day moving average price is $351.59 and its 200-day moving average price is $270.59.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business 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 firm’s revenue was up 5.1% on a year-over-year basis. Equities research analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova declared that its board has authorized a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Analyst Ratings Changes

GEV has been the topic of several research analyst reports. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Jefferies Financial Group boosted 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. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $339.73.

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.