Avior Wealth Management LLC Sells 46 Shares of GE Vernova Inc. (NYSE:GEV)

Avior Wealth Management LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,377 shares of the company’s stock after selling 46 shares during the period. Avior Wealth Management LLC’s holdings in GE Vernova were worth $782,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GEV. Mountaineer Partners Management LLC purchased a new stake in shares of 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 in the 2nd quarter valued at $293,699,000. International Assets Investment Management LLC boosted its stake in shares of GE Vernova by 35,238.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after purchasing an additional 1,431,729 shares in the last quarter. WCM Investment Management LLC boosted its stake in shares of GE Vernova by 83.1% in the 3rd quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after purchasing an additional 1,161,901 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of GE Vernova by 4,735.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 725,250 shares of the company’s stock valued at $124,388,000 after purchasing an additional 710,250 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target for the company. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Finally, Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $339.73.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $419.27 on Friday. The company has a 50-day moving average of $351.59 and a 200 day moving average of $270.59. The firm has a market cap of $115.57 billion and a price-to-earnings ratio of 75.41. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last released 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 firm 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 business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board 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.