Denver PWM LLC Has $103,000 Stock Position in GE Vernova Inc. (NYSE:GEV)

Denver PWM LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 29.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 314 shares of the company’s stock after selling 130 shares during the period. Denver PWM LLC’s holdings in GE Vernova were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sigma Planning Corp lifted its position in shares of GE Vernova by 9.4% in the 4th quarter. Sigma Planning Corp now owns 4,241 shares of the company’s stock worth $1,395,000 after acquiring an additional 364 shares during the period. Thompson Davis & CO. Inc. lifted its position in shares of GE Vernova by 3.7% in the 4th quarter. Thompson Davis & CO. Inc. now owns 2,125 shares of the company’s stock worth $699,000 after acquiring an additional 75 shares during the period. Boyd Watterson Asset Management LLC OH lifted its position in shares of GE Vernova by 60.0% in the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 1,259 shares of the company’s stock worth $414,000 after acquiring an additional 472 shares during the period. Bradley Foster & Sargent Inc. CT lifted its position in shares of GE Vernova by 3.7% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 5,059 shares of the company’s stock worth $1,664,000 after acquiring an additional 182 shares during the period. Finally, PYA Waltman Capital LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $224,000.

GE Vernova Stock Performance

NYSE GEV opened at $327.68 on Friday. The stock has a fifty day moving average of $364.41 and a 200-day moving average of $300.25. The stock has a market capitalization of $90.41 billion and a P/E ratio of 58.93. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. 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 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BMO Capital Markets raised their price objective on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Wells Fargo & Company raised their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen began coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Truist Financial raised their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $350.13.

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.