Indiana Trust & Investment Management Co Sells 51 Shares of GE Vernova Inc. (NYSE:GEV)

Indiana Trust & Investment Management Co lowered its stake in GE Vernova Inc. (NYSE:GEV) by 19.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 206 shares of the company’s stock after selling 51 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in GE Vernova were worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its stake in GE Vernova by 628.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,803 shares of the company’s stock worth $970,000 after acquiring an additional 3,281 shares during the period. Concourse Financial Group Securities Inc. raised its position in shares of GE Vernova by 75.6% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock valued at $1,264,000 after purchasing an additional 2,134 shares during the period. Koshinski Asset Management Inc. lifted its stake in shares of GE Vernova by 100.5% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,759 shares of the company’s stock valued at $703,000 after buying an additional 1,383 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in GE Vernova by 59.3% in the 3rd quarter. Sound Income Strategies LLC now owns 427 shares of the company’s stock worth $109,000 after buying an additional 159 shares during the period. Finally, Wesbanco Bank Inc. increased its stake in GE Vernova by 5.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 14,736 shares of the company’s stock worth $3,757,000 after buying an additional 802 shares in the last quarter.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $373.13 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a market cap of $102.95 billion and a price-to-earnings ratio of 67.11. The business’s 50 day moving average price is $359.53 and its 200-day moving average price is $288.77.

GE Vernova (NYSE:GEV) last released its earnings results 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). The business had revenue of $10.56 billion during 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 company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date 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 authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on GEV shares. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Finally, Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $346.22.

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.