TBH Global Asset Management LLC Cuts Stake in GE Vernova Inc. (NYSE:GEV)

TBH Global Asset Management LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 23.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,275 shares of the company’s stock after selling 388 shares during the quarter. TBH Global Asset Management LLC’s holdings in GE Vernova were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GEV. Waverton Investment Management Ltd boosted its holdings in shares of GE Vernova by 10.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares during the last quarter. Register Financial Advisors LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $206,000. Hanlon Investment Management Inc. purchased a new position in GE Vernova during the 3rd quarter valued at approximately $1,101,000. Atria Investments Inc increased its stake in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after acquiring an additional 822 shares during the last quarter.

GE Vernova Trading Up 0.4 %

NYSE:GEV opened at $374.87 on Thursday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a market cap of $103.43 billion and a PE ratio of 67.42. The company’s 50 day moving average is $363.90 and its two-hundred day moving average is $297.73.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company 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. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has initiated a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders 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 dividend yield of 0.27%. GE Vernova’s payout ratio is currently 17.99%.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Evercore ISI boosted their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, BMO Capital Markets boosted their target price on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.