Rhumbline Advisers Sells 1,586 Shares of GE Vernova Inc. (NYSE:GEV)

Rhumbline Advisers reduced its stake in GE Vernova Inc. (NYSE:GEV) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,863 shares of the company’s stock after selling 1,586 shares during the quarter. Rhumbline Advisers owned 0.17% of GE Vernova worth $153,565,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GEV. Creative Planning lifted its position in GE Vernova by 11.4% in the 3rd quarter. Creative Planning now owns 52,641 shares of the company’s stock valued at $13,422,000 after acquiring an additional 5,382 shares in the last quarter. Vontobel Holding Ltd. lifted its position in GE Vernova by 454.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 13,558 shares of the company’s stock worth $3,457,000 after buying an additional 11,113 shares in the last quarter. Good Life Advisors LLC lifted its position in GE Vernova by 73.9% during the 3rd quarter. Good Life Advisors LLC now owns 3,114 shares of the company’s stock worth $794,000 after buying an additional 1,323 shares in the last quarter. Global Retirement Partners LLC lifted its position in GE Vernova by 0.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock worth $1,149,000 after buying an additional 40 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in GE Vernova by 64.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 7,683 shares of the company’s stock worth $1,959,000 after buying an additional 3,007 shares in the last quarter.

GE Vernova Stock Down 0.8 %

Shares of NYSE:GEV opened at $367.43 on Friday. The company’s 50 day moving average price is $361.74 and its two-hundred day moving average price is $292.64. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The firm has a market cap of $101.28 billion and a PE ratio of 66.08.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

GEV has been the topic of several analyst reports. Bank of America boosted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Johnson Rice initiated coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. BMO Capital Markets upped their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. upped their target price 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. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.