GE Vernova Inc. (NYSE:GEV) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 823 shares of the company’s stock after selling 34 shares during the period. Hantz Financial Services Inc.’s holdings in GE Vernova were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of GE Vernova during the second quarter worth $2,511,000. NewEdge Advisors LLC acquired a new position in GE Vernova in the 2nd quarter worth $1,851,000. Sunbelt Securities Inc. purchased a new position in GE Vernova in the 2nd quarter valued at about $46,000. Truist Financial Corp acquired a new stake in shares of GE Vernova during the second quarter valued at about $7,832,000. Finally, Cetera Investment Advisers purchased a new stake in shares of GE Vernova during the second quarter worth about $9,425,000.

GE Vernova Stock Performance

Shares of GEV opened at $372.70 on Friday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The stock’s fifty day moving average is $355.29 and its 200-day moving average is $278.58. The firm has a market capitalization of $102.74 billion and a price-to-earnings ratio of 67.03.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion for 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%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova declared that its board has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEV. Truist Financial increased 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. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight investment 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 stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

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.