Brown Lisle Cummings Inc. Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Brown Lisle Cummings Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 19.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 456 shares of the company’s stock after acquiring an additional 75 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in GE Vernova were worth $150,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Centaurus Financial Inc. purchased a new stake in GE Vernova during the second quarter worth $126,000. Czech National Bank lifted its stake in shares of GE Vernova by 7.2% during the 3rd quarter. Czech National Bank now owns 55,980 shares of the company’s stock worth $14,274,000 after purchasing an additional 3,751 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of GE Vernova by 28.0% during the 3rd quarter. GAMMA Investing LLC now owns 5,792 shares of the company’s stock worth $1,477,000 after purchasing an additional 1,266 shares during the last quarter. Diversified Trust Co boosted its position in GE Vernova by 473.0% during the third quarter. Diversified Trust Co now owns 9,311 shares of the company’s stock valued at $2,374,000 after purchasing an additional 7,686 shares in the last quarter. Finally, Smith Anglin Financial LLC purchased a new position in GE Vernova in the third quarter valued at about $236,000.

GE Vernova Trading Down 1.4 %

GE Vernova stock opened at $356.62 on Wednesday. The firm has a market cap of $98.30 billion and a PE ratio of 64.14. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock’s 50 day simple moving average is $355.93 and its two-hundred day simple moving average is $281.46.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $342.94.

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.