Silverlake Wealth Management LLC Sells 100 Shares of GE Vernova Inc. (NYSE:GEV)

Silverlake Wealth Management LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 10.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 833 shares of the company’s stock after selling 100 shares during the quarter. Silverlake Wealth Management LLC’s holdings in GE Vernova were worth $274,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GEV. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the third quarter worth about $2,507,296,000. International Assets Investment Management LLC increased its stake in GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after acquiring an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC increased its stake in GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter. FMR LLC increased its stake in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GEV shares. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Truist Financial upped their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Guggenheim lowered 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. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $342.94.

GE Vernova Stock Up 3.1 %

GEV stock opened at $367.43 on Thursday. The business has a fifty day moving average of $356.29 and a two-hundred day moving average of $282.82. The stock has a market cap of $101.28 billion and a price-to-earnings ratio of 66.08. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova declared that its board has approved a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The company also recently declared 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. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio is currently 17.99%.

About GE Vernova

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.