CapWealth Advisors LLC Has $20.47 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

CapWealth Advisors LLC lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,221 shares of the company’s stock after selling 1,659 shares during the period. GE Vernova comprises about 2.2% of CapWealth Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. CapWealth Advisors LLC’s holdings in GE Vernova were worth $20,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning grew its stake in GE Vernova by 11.4% in the third quarter. Creative Planning now owns 52,641 shares of the company’s stock valued at $13,422,000 after purchasing an additional 5,382 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of GE Vernova by 454.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 13,558 shares of the company’s stock valued at $3,457,000 after buying an additional 11,113 shares in the last quarter. Hengehold Capital Management LLC acquired a new position in GE Vernova in the third quarter worth approximately $306,000. Good Life Advisors LLC raised its position in GE Vernova by 73.9% during the third quarter. Good Life Advisors LLC now owns 3,114 shares of the company’s stock valued at $794,000 after acquiring an additional 1,323 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in GE Vernova by 0.9% in the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company’s stock valued at $1,149,000 after acquiring an additional 40 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEV. TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Bank of America upped their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.13.

GE Vernova Price Performance

GE Vernova stock opened at $367.43 on Friday. The business has a 50 day simple moving average of $361.32 and a 200 day simple moving average of $291.28. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a market capitalization of $101.28 billion and a PE ratio of 66.08.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company 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 of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

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

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.