Appleton Partners Inc. MA Sells 1,834 Shares of GE Vernova Inc. (NYSE:GEV)

Appleton Partners Inc. MA lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,703 shares of the company’s stock after selling 1,834 shares during the quarter. GE Vernova comprises 1.3% of Appleton Partners Inc. MA’s portfolio, making the stock its 16th largest position. Appleton Partners Inc. MA’s holdings in GE Vernova were worth $17,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the 3rd quarter worth about $2,507,296,000. International Assets Investment Management LLC grew its holdings in GE Vernova by 35,238.2% in the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares during the period. WCM Investment Management LLC increased its stake in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter. FMR LLC lifted its holdings in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GE Vernova by 34.1% in 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 purchasing an additional 460,834 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on GEV. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Friday, January 24th. Citigroup upped 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, January 23rd. Johnson Rice initiated coverage on shares of GE Vernova in a research report on Friday. They set a “buy” rating and a $425.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $346.22.

GE Vernova Stock Performance

NYSE:GEV opened at $377.99 on Friday. The stock has a 50-day simple moving average of $357.71 and a two-hundred day simple moving average of $284.04. The firm has a market capitalization of $104.19 billion and a PE ratio of 67.98. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.