Equitable Trust Co. Has $827,000 Position in GE Vernova Inc. (NYSE:GEV)

Equitable Trust Co. cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,515 shares of the company’s stock after selling 144 shares during the quarter. Equitable Trust Co.’s holdings in GE Vernova were worth $827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Waverton Investment Management Ltd lifted its holdings in GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after buying an additional 66,455 shares during the period. Register Financial Advisors LLC acquired a new position in GE Vernova during the 4th quarter worth about $206,000. Hanlon Investment Management Inc. acquired a new position in GE Vernova during the 3rd quarter worth about $1,101,000. Atria Investments Inc lifted its holdings in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after buying an additional 2,847 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its holdings in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after buying an additional 822 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GEV shares. BMO Capital Markets lifted their price objective on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Jefferies Financial Group lifted their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Stock Up 1.8 %

Shares of NYSE GEV opened at $384.71 on Tuesday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock’s 50 day moving average price is $358.59 and its 200-day moving average price is $287.18. The company has a market capitalization of $106.04 billion and a PE ratio of 69.19.

GE Vernova (NYSE:GEV) last announced 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Dividend Announcement

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. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s 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.