AM Investment Strategies LLC Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

AM Investment Strategies LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,718 shares of the company’s stock after selling 53 shares during the period. GE Vernova makes up about 0.8% of AM Investment Strategies LLC’s holdings, making the stock its 21st largest holding. AM Investment Strategies LLC’s holdings in GE Vernova were worth $3,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Sei Investments Co. purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $14,126,000. Thrivent Financial for Lutherans purchased a new stake in shares of GE Vernova during the second quarter worth about $2,339,000. Public Sector Pension Investment Board purchased a new stake in GE Vernova in the second quarter worth about $1,800,000. Evergreen Capital Management LLC bought a new stake in GE Vernova during the 2nd quarter valued at approximately $287,000. Finally, Insigneo Advisory Services LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $275,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GEV. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $376.00 price target on shares of GE Vernova in a research report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $339.73.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $419.27 on Friday. The company has a market capitalization of $115.57 billion and a P/E ratio of 75.41. The company has a fifty day moving average of $351.59 and a 200 day moving average of $270.59. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs 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.