GE Vernova Inc. (NYSE:GEV) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 1.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,767 shares of the company’s stock after selling 376 shares during the quarter. Highland Capital Management LLC’s holdings in GE Vernova were worth $10,778,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% in the fourth 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 period. Castleview Partners LLC acquired a new stake in GE Vernova in the third quarter valued at approximately $28,000. Covestor Ltd raised its holdings 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 purchasing an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC raised its holdings in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their target price on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Raymond James downgraded GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Barclays boosted their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $342.94.

GE Vernova Stock Performance

Shares of GEV opened at $353.65 on Thursday. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The business’s 50 day moving average price is $353.77 and its two-hundred day moving average price is $275.94. The firm has a market cap of $97.48 billion and a PE ratio of 63.61.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm 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 business’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova announced that its Board of Directors has approved a share buyback plan 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 plans are usually an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Company 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.