GE Vernova Inc. (NYSE:GEV) Shares Sold by Sachetta LLC

Sachetta LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143 shares of the company’s stock after selling 28 shares during the period. Sachetta LLC’s holdings in GE Vernova were worth $47,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castleview Partners LLC acquired a new position in shares of GE Vernova in the third quarter valued at about $28,000. Covestor Ltd raised its holdings in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter valued at $31,000. Prestige Wealth Management Group LLC boosted its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp grew its position in GE Vernova by 1,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the period.

GE Vernova Trading Down 4.2 %

Shares of GEV stock opened at $419.27 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company’s 50-day moving average price is $351.59 and its 200-day moving average price is $270.59. The stock has a market cap of $115.57 billion and a price-to-earnings ratio of 75.41.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates 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, equities research analysts predict that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GEV shares. Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company increased their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Barclays boosted their price objective on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $339.73.

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.