CapWealth Advisors LLC Sells 1,659 Shares of GE Vernova Inc. (NYSE:GEV)

CapWealth Advisors LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 62,221 shares of the company’s stock after selling 1,659 shares during the quarter. GE Vernova makes up 2.2% of CapWealth Advisors LLC’s portfolio, making the stock its 19th biggest position. CapWealth Advisors LLC’s holdings in GE Vernova were worth $20,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. International Assets Investment Management LLC increased its position in shares of GE Vernova by 35,238.2% during the third 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 in the last quarter. WCM Investment Management LLC raised its holdings in shares of GE Vernova by 83.1% during the third 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 period. FMR LLC raised its holdings in shares of GE Vernova by 2.5% during the third 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 valued at $462,073,000 after acquiring an additional 460,834 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Guggenheim cut 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 note on Friday, January 24th. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Barclays increased their target price on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating 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 company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Trading Down 0.8 %

Shares of NYSE GEV opened at $367.43 on Friday. The business’s 50 day moving average is $361.32 and its 200-day moving average is $291.28. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market cap of $101.28 billion and a P/E ratio of 66.08.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 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 business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. GE Vernova’s payout ratio is 17.99%.

GE Vernova declared that its board has approved a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are 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.