Sovran Advisors LLC Takes $281,000 Position in GE Vernova Inc. (NYSE:GEV)

Sovran Advisors LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 855 shares of the company’s stock, valued at approximately $281,000.

Other hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its holdings in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares during the period. Hengehold Capital Management LLC grew its stake in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its position in shares of GE Vernova by 28.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after buying an additional 35 shares during the last quarter.

GE Vernova Price Performance

GEV opened at $370.45 on Friday. The firm has a fifty day moving average price of $360.87 and a 200 day moving average price of $290.73. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock has a market cap of $102.11 billion and a P/E ratio of 66.63.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 during the quarter, compared to analyst estimates of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. 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 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its board has approved a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on GEV shares. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.13.

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.