GE Vernova Inc. (NYSE:GEV) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 32,767 shares of the company’s stock after selling 376 shares during the quarter. Highland Capital Management LLC’s holdings in GE Vernova were worth $10,778,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova in the 3rd quarter worth approximately $28,000. Covestor Ltd increased its holdings in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC increased its stake in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the period.

GE Vernova Price Performance

NYSE:GEV opened at $353.65 on Thursday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company’s 50-day simple moving average is $353.77 and its 200 day simple moving average is $275.94. The firm has a market capitalization of $97.48 billion and a P/E ratio of 63.61.

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 the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. GE Vernova’s payout ratio is currently 17.99%.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on GEV shares. Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Wells Fargo & Company lifted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays boosted their price objective on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.