National Pension Service Decreases Stock Position in GE Vernova Inc. (NYSE:GEV)

National Pension Service lowered its stake in GE Vernova Inc. (NYSE:GEV) by 16.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 462,295 shares of the company’s stock after selling 92,279 shares during the period. National Pension Service’s holdings in GE Vernova were worth $152,063,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its holdings 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 worth $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Asset Planning Inc bought a new stake in shares of GE Vernova in the fourth quarter worth about $35,000. Riggs Asset Managment Co. Inc. grew its stake in shares of GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter.

GE Vernova Stock Up 5.5 %

Shares of NYSE GEV opened at $335.15 on Thursday. The firm has a market cap of $92.47 billion and a P/E ratio of 60.28. The company has a 50 day moving average of $364.13 and a 200 day moving average of $303.37. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last issued 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 business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research note on Friday, January 24th. BMO Capital Markets raised their target price on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.