John G Ullman & Associates Inc. Trims Holdings in GE Vernova Inc. (NYSE:GEV)

John G Ullman & Associates Inc. lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,746 shares of the company’s stock after selling 183 shares during the quarter. John G Ullman & Associates Inc.’s holdings in GE Vernova were worth $1,232,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Waverton Investment Management Ltd increased its holdings in GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares during the period. Register Financial Advisors LLC purchased a new position in GE Vernova during the 4th quarter valued at about $206,000. Hanlon Investment Management Inc. purchased a new position in GE Vernova during the 3rd quarter valued at about $1,101,000. Atria Investments Inc increased its holdings in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its holdings in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GEV shares. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target on the stock. in a report on Friday, January 24th. TD Cowen began 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. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Morgan Stanley upped their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Trading Up 2.9 %

GEV stock opened at $335.80 on Friday. The stock has a market capitalization of $92.65 billion and a PE ratio of 60.40. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The stock’s 50 day simple moving average is $363.85 and its 200 day simple moving average is $305.51.

GE Vernova (NYSE:GEV) last released its quarterly 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 for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.30%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors 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.