Skylands Capital LLC Trims Position in GE Vernova Inc. (NYSE:GEV)

Skylands Capital LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 84.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 500 shares of the company’s stock after selling 2,700 shares during the quarter. Skylands Capital LLC’s holdings in GE Vernova were worth $164,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC lifted its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Covestor Ltd boosted its position in shares of GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in GE Vernova during the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC increased its holdings in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the last quarter.

GE Vernova Trading Down 3.7 %

NYSE:GEV opened at $315.74 on Tuesday. The company has a market cap of $87.11 billion and a price-to-earnings ratio of 56.79. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a fifty day simple moving average of $363.97 and a 200-day simple moving average of $302.17.

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). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. GE Vernova’s payout ratio is 17.99%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GEV shares. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. TD Cowen assumed coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.