GE Vernova Inc. (NYSE:GEV) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,040 shares of the company’s stock after selling 160 shares during the quarter. Transcend Capital Advisors LLC’s holdings in GE Vernova were worth $1,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Howard Capital Management Group LLC acquired a new stake in shares of GE Vernova in the third quarter worth $213,000. Private Advisor Group LLC boosted its holdings in GE Vernova by 8.2% in the third quarter. Private Advisor Group LLC now owns 20,098 shares of the company’s stock valued at $5,125,000 after purchasing an additional 1,531 shares during the last quarter. International Assets Investment Management LLC grew its position in GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after purchasing an additional 1,431,729 shares during the period. Brighton Jones LLC raised its stake in shares of GE Vernova by 21.8% during the 3rd quarter. Brighton Jones LLC now owns 2,562 shares of the company’s stock valued at $653,000 after buying an additional 459 shares during the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of GE Vernova by 47.5% during the 3rd quarter. CENTRAL TRUST Co now owns 8,464 shares of the company’s stock valued at $2,158,000 after buying an additional 2,726 shares during the last quarter.

GE Vernova Trading Down 8.9 %

NYSE:GEV opened at $327.68 on Friday. The company has a market cap of $90.41 billion and a P/E ratio of 58.93. 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 $364.41 and its 200-day moving average price is $299.31.

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 business 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. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. Citigroup lifted 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. Barclays boosted their target price on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova 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.