State of Alaska Department of Revenue Lowers Position in GE Vernova Inc. (NYSE:GEV)

State of Alaska Department of Revenue trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,430 shares of the company’s stock after selling 495 shares during the quarter. State of Alaska Department of Revenue’s holdings in GE Vernova were worth $10,338,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its holdings in GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after buying an additional 66,455 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $206,000. Hanlon Investment Management Inc. purchased a new position in shares of GE Vernova during the third quarter valued at approximately $1,101,000. Atria Investments Inc boosted its position in GE Vernova by 127.0% during the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Finally, Fractal Investments LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $1,530,000.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent analyst reports. Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Citigroup upped their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Price Performance

GE Vernova stock opened at $374.67 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The company has a market capitalization of $103.28 billion and a price-to-earnings ratio of 67.39. The firm’s fifty day moving average price is $356.93 and its 200 day moving average price is $283.41.

GE Vernova (NYSE:GEV) last announced its earnings results 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). The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.