GE Vernova Inc. (NYSE:GEV) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,255 shares of the company’s stock after selling 110 shares during the quarter. Kanawha Capital Management LLC’s holdings in GE Vernova were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC increased its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter valued at $28,000. Covestor Ltd increased its stake in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova in the third quarter valued at $31,000.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GEV shares. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Wells Fargo & Company upped their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. BMO Capital Markets upped their price target on GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. 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 note on Friday, January 24th. Finally, Evercore ISI upped their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Trading Up 0.2 %

Shares of GE Vernova stock opened at $370.45 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market capitalization of $102.11 billion and a price-to-earnings ratio of 66.63. The business’s 50 day simple moving average is $360.87 and its 200-day simple moving average is $290.73.

GE Vernova (NYSE:GEV) last posted 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 business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

GE Vernova announced that its board has authorized a stock 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 generally an indication that the company’s leadership believes its stock is undervalued.

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.