GE Vernova Inc. (NYSE:GEV) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 2,397 shares of the company’s stock after selling 68 shares during the period. Crestwood Advisors Group LLC’s holdings in GE Vernova were worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake in GE Vernova by 2.5% during the 3rd 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 period. State Street Corp lifted its stake in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC lifted its stake in shares of GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, WCM Investment Management LLC lifted its stake in shares of GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEV. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Citigroup upped their price target 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. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, BMO Capital Markets boosted their target price on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Performance

Shares of GEV stock opened at $318.00 on Wednesday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The stock has a market cap of $87.74 billion and a price-to-earnings ratio of 57.19. The firm has a fifty day moving average of $363.77 and a 200-day moving average of $303.15.

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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is 17.99%.

GE Vernova declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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.