GE Vernova Inc. (NYSE:GEV) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 49.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,561 shares of the company’s stock after selling 1,553 shares during the quarter. Good Life Advisors LLC’s holdings in GE Vernova were worth $513,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Asset Planning Inc acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $35,000. Riggs Asset Managment Co. Inc. boosted its position in GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after acquiring an additional 57 shares during the last quarter. Finally, Covestor Ltd boosted its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Barclays raised their price target on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Trading Down 4.2 %

NYSE:GEV opened at $359.57 on Friday. The stock has a 50 day moving average of $364.50 and a 200-day moving average of $298.16. The firm has a market capitalization of $99.21 billion and a PE ratio of 64.67. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors 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 yield of 0.28%. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova 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.