Summit Place Financial Advisors LLC Decreases Position in GE Vernova Inc. (NYSE:GEV)

Summit Place Financial Advisors LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,177 shares of the company’s stock after selling 687 shares during the quarter. GE Vernova accounts for 2.1% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Summit Place Financial Advisors LLC’s holdings in GE Vernova were worth $3,676,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GEV. Mountaineer Partners Management LLC bought a new stake in GE Vernova in the 3rd quarter worth $2,507,296,000. International Assets Investment Management LLC boosted its stake in GE Vernova by 35,238.2% during the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after acquiring an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC boosted its stake in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after acquiring an additional 1,161,901 shares in the last quarter. FMR LLC boosted its stake in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley boosted their price objective on shares of 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 lifted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $372.59 on Wednesday. The firm has a fifty day moving average price of $363.28 and a 200 day moving average price of $297.19. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market cap of $102.80 billion and a price-to-earnings ratio of 67.01.

GE Vernova (NYSE:GEV) last issued 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 return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research 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 declared 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 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

GE Vernova announced that its board has initiated a share buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are 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.