Peregrine Asset Advisers Inc. Has $248,000 Stake in GE Vernova Inc. (NYSE:GEV)

Peregrine Asset Advisers Inc. reduced its position in GE Vernova Inc. (NYSE:GEV) by 94.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 754 shares of the company’s stock after selling 12,809 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in GE Vernova were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bradley Foster & Sargent Inc. CT increased its stake in GE Vernova by 3.7% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,059 shares of the company’s stock valued at $1,664,000 after acquiring an additional 182 shares during the last quarter. PYA Waltman Capital LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at $224,000. O Neil Global Advisors Inc. acquired a new stake in shares of GE Vernova in the 4th quarter valued at $2,064,000. Centricity Wealth Management LLC bought a new position in shares of GE Vernova in the 4th quarter valued at $91,000. Finally, Capital Investment Counsel Inc acquired a new position in shares of GE Vernova during the 4th quarter worth $247,000.

Analyst Ratings Changes

A number of research firms have issued reports on GEV. Barclays lifted their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Citigroup lifted their price target 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. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday. They set an “outperform” rating for the company. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets upped their price target on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Stock Down 8.9 %

Shares of NYSE GEV opened at $327.68 on Friday. The company has a market capitalization of $90.41 billion and a PE ratio of 58.93. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The firm has a fifty day simple moving average of $364.41 and a 200 day simple moving average of $299.31.

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). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova declared that its board has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.