GE Vernova Inc. (NYSE:GEV) Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,842 shares of the company’s stock after selling 622 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in GE Vernova were worth $4,351,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GEV. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares in the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares in the last quarter. Covestor Ltd boosted its stake in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC bought a new position in GE Vernova during the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC boosted its stake in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares in the last quarter.

GE Vernova Price Performance

GEV opened at $359.57 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business has a 50-day moving average of $364.50 and a 200-day moving average of $298.16. The company has a market capitalization of $99.21 billion and a PE ratio of 64.67.

GE Vernova (NYSE:GEV) last issued 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. CICC Research initiated coverage on GE Vernova in a research report on Wednesday. They issued an “outperform” rating for the company. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price target for the company. in a research report on Friday, January 24th. Barclays increased their price target on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight research 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. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova 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.