GE Vernova Inc. (NYSE:GEV) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,494 shares of the company’s stock after selling 92 shares during the quarter. Byrne Asset Management LLC’s holdings in GE Vernova were worth $1,149,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GEV. FMR LLC boosted its position in shares of GE Vernova by 2.5% in the 3rd 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 period. State Street Corp lifted its stake in GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova in the third quarter worth about $2,507,296,000. Geode Capital Management LLC increased its position in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC raised its holdings in shares of GE Vernova by 83.1% during the third 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.

GE Vernova Price Performance

Shares of GEV opened at $377.99 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company’s fifty day moving average price is $357.71 and its 200 day moving average price is $284.04. The company has a market capitalization of $104.19 billion and a PE ratio of 67.98.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Friday, January 24th. BMO Capital Markets lifted their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Johnson Rice initiated coverage on shares of GE Vernova in a research report on Friday. They issued a “buy” rating and a $425.00 price target for the company. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.