Verdence Capital Advisors LLC Has $1.05 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Verdence Capital Advisors LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 25.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,179 shares of the company’s stock after selling 1,069 shares during the period. Verdence Capital Advisors LLC’s holdings in GE Vernova were worth $1,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Covestor Ltd boosted its position in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova in the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the period.

GE Vernova Stock Performance

GE Vernova stock opened at $317.17 on Thursday. The business’s 50-day simple moving average is $361.95 and its 200-day simple moving average is $308.22. The firm has a market capitalization of $87.51 billion and a PE ratio of 57.04. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week 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 the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has initiated a stock 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 repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid 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 0.32%. GE Vernova’s dividend payout ratio is 17.99%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted 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. Morgan Stanley lifted their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Citigroup lifted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $347.83.

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.