GE Vernova Inc. (NYSE:GEV) Stock Position Lowered by South Dakota Investment Council

South Dakota Investment Council lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,429 shares of the company’s stock after selling 300 shares during the period. South Dakota Investment Council’s holdings in GE Vernova were worth $1,128,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in GE Vernova in the 4th quarter valued at about $1,446,000. MONECO Advisors LLC acquired a new stake in GE Vernova during the fourth quarter valued at approximately $284,000. Howard Capital Management Inc. boosted its holdings in GE Vernova by 5.1% during the fourth quarter. Howard Capital Management Inc. now owns 1,678 shares of the company’s stock worth $552,000 after buying an additional 81 shares in the last quarter. WESPAC Advisors LLC acquired a new position in GE Vernova in the fourth quarter worth approximately $692,000. Finally, Wealthspire Advisors LLC increased its holdings in shares of GE Vernova by 8.7% in the fourth quarter. Wealthspire Advisors LLC now owns 4,989 shares of the company’s stock valued at $1,641,000 after buying an additional 400 shares in the last quarter.

GE Vernova Trading Down 8.9 %

Shares of GE Vernova stock opened at $327.68 on Monday. The firm has a fifty day simple moving average of $364.41 and a 200-day simple moving average of $301.20. The stock has a market capitalization of $90.41 billion and a price-to-earnings ratio of 58.93. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Robert W. Baird initiated coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $350.13.

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.