Court Place Advisors LLC Sells 178 Shares of GE Vernova Inc. (NYSE:GEV)

Court Place Advisors LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,378 shares of the company’s stock after selling 178 shares during the period. Court Place Advisors LLC’s holdings in GE Vernova were worth $453,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Berkshire Bank increased its stake in shares of GE Vernova by 83.9% in the 4th quarter. Berkshire Bank now owns 2,256 shares of the company’s stock valued at $742,000 after buying an additional 1,029 shares during the period. Foundations Investment Advisors LLC increased its position in GE Vernova by 7.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,395 shares of the company’s stock worth $788,000 after purchasing an additional 158 shares during the period. Parsons Capital Management Inc. RI lifted its position in GE Vernova by 5.4% during the 4th quarter. Parsons Capital Management Inc. RI now owns 1,691 shares of the company’s stock valued at $556,000 after purchasing an additional 87 shares during the period. CKW Financial Group lifted its position in GE Vernova by 58.6% during the 4th quarter. CKW Financial Group now owns 276 shares of the company’s stock valued at $91,000 after purchasing an additional 102 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of GE Vernova by 9.8% in the 4th quarter. Pacer Advisors Inc. now owns 22,359 shares of the company’s stock valued at $7,355,000 after purchasing an additional 1,997 shares during the last quarter.

GE Vernova Stock Down 21.6 %

Shares of GEV opened at $329.63 on Tuesday. 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 $90.86 billion and a P/E ratio of 59.29. The company has a 50 day moving average of $353.38 and a 200-day moving average of $273.64.

GE Vernova (NYSE:GEV) last released its earnings results 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 business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GEV shares. Citigroup increased their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. 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. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.73.

GE Vernova Company 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.