First National Bank & Trust Co. of Newtown Sells 75 Shares of GE Vernova Inc. (NYSE:GEV)

First National Bank & Trust Co. of Newtown lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,107 shares of the company’s stock after selling 75 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in GE Vernova were worth $693,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC bought a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $213,000. Stratos Wealth Advisors LLC bought a new stake in GE Vernova in the third quarter valued at $305,000. Castleview Partners LLC acquired a new position in GE Vernova during the third quarter worth $28,000. Whittier Trust Co. boosted its stake in shares of GE Vernova by 1.9% in the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company’s stock valued at $537,000 after purchasing an additional 40 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of GE Vernova by 30.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,708 shares of the company’s stock worth $5,280,000 after purchasing an additional 4,823 shares during the last quarter.

GE Vernova Trading Up 0.4 %

NYSE:GEV opened at $374.87 on Thursday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market capitalization of $103.43 billion and a price-to-earnings ratio of 67.42. The business’s 50-day moving average price is $363.90 and its two-hundred day moving average price is $297.73.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 firm 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 quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

GE Vernova Announces Dividend

The firm 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. This represents a $1.00 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is presently 17.99%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GEV shares. Jefferies Financial Group lifted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. CICC Research assumed coverage on shares of GE Vernova in a research note on Wednesday. They issued an “outperform” rating for the company. Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Eight investment 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 company. According to MarketBeat.com, the stock has an average 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.