Iron Horse Wealth Management LLC Has $54,000 Position in GE Vernova Inc. (NYSE:GEV)

Iron Horse Wealth Management LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 18.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 165 shares of the company’s stock after selling 37 shares during the period. Iron Horse Wealth Management LLC’s holdings in GE Vernova were worth $54,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Evercore ISI upped their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Morgan Stanley increased their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

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 stock has a 50 day moving average of $356.93 and a 200-day moving average of $283.41. The company has a market cap of $103.28 billion and a PE ratio of 67.39.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm 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 quarterly revenue 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 announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy 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 stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is currently 17.99%.

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.