Slocum Gordon & Co LLP Has $933,000 Stake in GE Vernova Inc. (NYSE:GEV)

Slocum Gordon & Co LLP reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,837 shares of the company’s stock after selling 50 shares during the period. Slocum Gordon & Co LLP’s holdings in GE Vernova were worth $933,000 as of its most recent SEC filing.

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

GE Vernova Trading Up 1.8 %

NYSE GEV opened at $374.67 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market cap of $103.28 billion and a PE ratio of 67.39. The stock has a 50 day moving average of $357.71 and a 200-day moving average of $284.04.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova announced that its board has authorized 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 purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. 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 report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.