Delta Financial Group Inc. Cuts Stake in GE Vernova Inc. (NYSE:GEV)

Delta Financial Group Inc. decreased its stake in GE Vernova Inc. (NYSE:GEV) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,725 shares of the company’s stock after selling 82 shares during the period. Delta Financial Group Inc.’s holdings in GE Vernova were worth $896,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. MONECO Advisors LLC acquired a new stake in GE Vernova during the 4th quarter valued at $284,000. Howard Capital Management Inc. boosted its position in GE Vernova by 5.1% in the 4th quarter. Howard Capital Management Inc. now owns 1,678 shares of the company’s stock valued at $552,000 after buying an additional 81 shares during the last quarter. WESPAC Advisors LLC acquired a new stake in shares of GE Vernova during the fourth quarter valued at about $692,000. Wealthspire Advisors LLC increased its position in shares of GE Vernova by 8.7% during the fourth quarter. Wealthspire Advisors LLC now owns 4,989 shares of the company’s stock worth $1,641,000 after acquiring an additional 400 shares during the last quarter. Finally, TCW Group Inc. boosted its holdings in GE Vernova by 24.9% in the fourth quarter. TCW Group Inc. now owns 193,140 shares of the company’s stock valued at $63,530,000 after purchasing an additional 38,547 shares during the last quarter.

GE Vernova Trading Down 8.9 %

GE Vernova stock opened at $327.68 on Friday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm’s fifty day simple moving average is $364.41 and its 200-day simple moving average is $300.25. The company has a market capitalization of $90.41 billion and a P/E ratio of 58.93.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 annualized dividend and a yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a report on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price for the company. in a research report on Friday, January 24th. CICC Research started coverage on shares of GE Vernova in a report on Wednesday. They issued an “outperform” rating for the company. Finally, Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.