Jacobi Capital Management LLC Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Jacobi Capital Management LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 8.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,251 shares of the company’s stock after selling 113 shares during the period. Jacobi Capital Management LLC’s holdings in GE Vernova were worth $411,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Armstrong Advisory Group Inc. increased its stake in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC increased its stake in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC increased its stake in shares of GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in shares of GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GEV shares. Citigroup raised their price objective 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 raised their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, Johnson Rice started coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Trading Up 2.9 %

Shares of GEV stock opened at $335.80 on Monday. The company’s fifty day simple moving average is $363.85 and its 200-day simple moving average is $306.36. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company has a market cap of $92.65 billion and a PE ratio of 60.40.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 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 during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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 $0.25 dividend. 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 dividend payout ratio is presently 17.99%.

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.