Optimist Retirement Group LLC Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Optimist Retirement Group LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 891 shares of the company’s stock after selling 85 shares during the quarter. Optimist Retirement Group LLC’s holdings in GE Vernova were worth $293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. Armstrong Advisory Group Inc. grew its holdings in GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC grew its stake in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc grew its stake in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares in the last quarter. Mutual Advisors LLC increased its holdings in 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 acquiring an additional 31 shares during the period. Finally, Pittenger & Anderson Inc. lifted its stake in GE Vernova by 28.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on GEV shares. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Jefferies Financial Group raised their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley boosted their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Performance

NYSE:GEV opened at $367.43 on Thursday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market cap of $101.28 billion and a PE ratio of 66.08. The business has a 50 day moving average price of $356.29 and a 200-day moving average price of $282.82.

GE Vernova (NYSE:GEV) last announced its quarterly 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a dividend of $0.25 per share. 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 presently 17.99%.

GE Vernova announced that its board has authorized a stock 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.