GE Vernova Inc. (NYSE:GEV) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 16.5% during the 4th quarter, HoldingsChannel reports. The fund owned 5,648 shares of the company’s stock after selling 1,118 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in GE Vernova were worth $1,858,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GEV. Exchange Traded Concepts LLC lifted its stake in shares of GE Vernova by 628.5% in the third quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock worth $970,000 after acquiring an additional 3,281 shares in the last quarter. Concourse Financial Group Securities Inc. raised its stake in GE Vernova by 75.6% during the third quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock valued at $1,264,000 after buying an additional 2,134 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in GE Vernova by 100.5% during the third quarter. Koshinski Asset Management Inc. now owns 2,759 shares of the company’s stock valued at $703,000 after buying an additional 1,383 shares in the last quarter. Sound Income Strategies LLC raised its stake in GE Vernova by 59.3% during the third quarter. Sound Income Strategies LLC now owns 427 shares of the company’s stock valued at $109,000 after buying an additional 159 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its stake in GE Vernova by 5.8% during the third quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock valued at $3,757,000 after buying an additional 802 shares in the last quarter.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $373.13 on Wednesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The company has a market capitalization of $102.95 billion and a P/E ratio of 67.11. The business’s fifty day moving average price is $359.53 and its two-hundred day moving average price is $288.77.

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 analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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

Analyst Ratings Changes

Several brokerages have issued reports on GEV. The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. 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 note on Thursday, January 23rd. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

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.