Vontobel Holding Ltd. Sells 3,522 Shares of GE Vernova Inc. (NYSE:GEV)

Vontobel Holding Ltd. cut its holdings in GE Vernova Inc. (NYSE:GEV) by 26.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,036 shares of the company’s stock after selling 3,522 shares during the period. Vontobel Holding Ltd.’s holdings in GE Vernova were worth $3,301,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Waverton Investment Management Ltd boosted its holdings in GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the period. Register Financial Advisors LLC bought a new position in GE Vernova in the 4th quarter worth approximately $206,000. Hanlon Investment Management Inc. bought a new position in GE Vernova in the 3rd quarter worth approximately $1,101,000. Atria Investments Inc boosted its holdings in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its holdings in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the period.

GE Vernova Trading Down 0.8 %

GEV stock opened at $367.43 on Monday. The firm’s 50-day moving average price is $361.74 and its two-hundred day moving average price is $293.55. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The stock has a market capitalization of $101.37 billion and a price-to-earnings ratio of 66.08.

GE Vernova (NYSE:GEV) last released 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). 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 during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on GEV shares. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Barclays raised their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.