True North Advisors LLC Cuts Position in GE Vernova Inc. (NYSE:GEV)

True North Advisors LLC lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,925 shares of the company’s stock after selling 362 shares during the quarter. True North Advisors LLC’s holdings in GE Vernova were worth $1,949,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GEV. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the 3rd quarter valued at $2,507,296,000. Legal & General Group Plc purchased a new stake in shares of GE Vernova during the second quarter worth about $293,699,000. Electron Capital Partners LLC raised its position in shares of GE Vernova by 1,641.3% during the 2nd quarter. Electron Capital Partners LLC now owns 1,694,296 shares of the company’s stock worth $290,589,000 after purchasing an additional 1,596,996 shares during the last quarter. Lone Pine Capital LLC purchased a new position in GE Vernova in the 2nd quarter valued at about $253,322,000. Finally, International Assets Investment Management LLC increased its stake in GE Vernova by 35,238.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock worth $366,098,000 after buying an additional 1,431,729 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on GE Vernova from $367.00 to $374.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Jefferies Financial Group upped their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Wednesday, December 11th. Truist Financial upped their price target on GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $326.85.

GE Vernova Stock Up 2.6 %

NYSE GEV opened at $426.84 on Thursday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $434.10. The stock has a 50-day moving average of $347.50 and a two-hundred day moving average of $268.31.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 net margin of 3.67% and a return on equity of 4.22%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that GE Vernova Inc. will post 1.96 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.23%.

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.