GE Vernova Inc. (NYSE:GEV) Stock Holdings Reduced by 1858 Wealth Management LLC

1858 Wealth Management LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,020 shares of the company’s stock after selling 650 shares during the period. GE Vernova accounts for approximately 2.4% of 1858 Wealth Management LLC’s portfolio, making the stock its 9th largest holding. 1858 Wealth Management LLC’s holdings in GE Vernova were worth $2,967,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. FMR LLC boosted its holdings in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the period. State Street Corp boosted its holdings in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova in the third quarter valued at $2,507,296,000. Geode Capital Management LLC grew 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 valued at $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, WCM Investment Management LLC grew its position in shares of GE Vernova by 83.1% in the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter.

GE Vernova Stock Performance

GEV stock opened at $356.62 on Wednesday. The firm has a market cap of $98.30 billion and a P/E ratio of 64.14. The firm’s fifty day moving average is $355.93 and its 200 day moving average is $281.46. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Wells Fargo & Company upped their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average 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.