Verdence Capital Advisors LLC Sells 1,069 Shares of GE Vernova Inc. (NYSE:GEV)

Verdence Capital Advisors LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 25.2% during the 4th quarter, HoldingsChannel reports. The firm owned 3,179 shares of the company’s stock after selling 1,069 shares during the quarter. Verdence Capital Advisors LLC’s holdings in GE Vernova were worth $1,046,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Aigen Investment Management LP bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $568,000. Proficio Capital Partners LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $287,000. SPC Financial Inc. bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $281,000. Atria Investments Inc grew its stake in shares of GE Vernova by 31.6% in the 4th quarter. Atria Investments Inc now owns 6,696 shares of the company’s stock valued at $2,203,000 after purchasing an additional 1,608 shares during the period. Finally, Assetmark Inc. grew its stake in shares of GE Vernova by 20.6% in the 4th quarter. Assetmark Inc. now owns 9,270 shares of the company’s stock valued at $3,049,000 after purchasing an additional 1,581 shares during the period.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $317.17 on Thursday. The firm has a fifty day moving average of $361.95 and a two-hundred day moving average of $308.22. The stock has a market capitalization of $87.51 billion and a price-to-earnings 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 earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GEV shares. Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Wednesday. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. Finally, Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently 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.