Platform Technology Partners Has $903,000 Stake in GE Vernova Inc. (NYSE:GEV)

Platform Technology Partners reduced its position in GE Vernova Inc. (NYSE:GEV) by 29.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,744 shares of the company’s stock after selling 1,132 shares during the quarter. Platform Technology Partners’ holdings in GE Vernova were worth $903,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. boosted its position in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares in the last quarter. Hengehold Capital Management LLC boosted its holdings in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares during the period. Mutual Advisors LLC raised its holdings in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its position in shares of GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after buying an additional 35 shares during the period.

GE Vernova Trading Up 0.8 %

NYSE GEV opened at $377.99 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 simple moving average of $357.71 and a 200 day simple moving average of $284.04. The company has a market capitalization of $104.19 billion and a PE ratio of 67.98.

GE Vernova (NYSE:GEV) last announced 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 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 revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio is 17.99%.

GE Vernova announced that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research report on Friday, January 24th. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Morgan Stanley raised their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

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.