GE Vernova Inc. (NYSE:GEV) Shares Sold by Souders Financial Advisors

Souders Financial Advisors cut its stake in GE Vernova Inc. (NYSE:GEV) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,010 shares of the company’s stock after selling 217 shares during the period. Souders Financial Advisors’ holdings in GE Vernova were worth $332,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Snider Financial Group acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $318,000. Victory Capital Management Inc. boosted its position in shares of GE Vernova by 3.2% in the fourth quarter. Victory Capital Management Inc. now owns 93,479 shares of the company’s stock worth $30,748,000 after acquiring an additional 2,901 shares during the last quarter. Westover Capital Advisors LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $363,000. Exencial Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $270,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of GE Vernova by 103.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,116 shares of the company’s stock worth $699,000 after acquiring an additional 1,077 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GEV shares. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, TD Cowen initiated coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $347.83.

GE Vernova Trading Up 1.3 %

Shares of NYSE:GEV opened at $317.17 on Thursday. The firm has a market cap of $87.51 billion and a PE ratio of 57.04. The company has a fifty day simple moving average of $361.95 and a 200 day simple moving average of $308.22. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates 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 was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 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. Shareholders 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 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.