Stock Yards Bank & Trust Co. Sells 177 Shares of GE Vernova Inc. (NYSE:GEV)

Stock Yards Bank & Trust Co. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,464 shares of the company’s stock after selling 177 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in GE Vernova were worth $810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GEV. Waverton Investment Management Ltd lifted its stake in shares of GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after buying an additional 66,455 shares during the period. Register Financial Advisors LLC acquired a new position in GE Vernova in the 4th quarter valued at approximately $206,000. Hanlon Investment Management Inc. bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $1,101,000. Atria Investments Inc grew its holdings in shares of GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Finally, Fractal Investments LLC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $1,530,000.

GE Vernova Stock Down 3.2 %

GEV stock opened at $361.01 on Tuesday. The business has a fifty day moving average of $355.29 and a 200-day moving average of $280.05. The company has a market cap of $99.51 billion and a P/E ratio of 64.93. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released its 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). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were paid 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 yield of 0.28%. GE Vernova’s payout ratio is presently 17.99%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Wolfe Research began coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.