Wesbanco Bank Inc. Sells 745 Shares of GE Vernova Inc. (NYSE:GEV)

Wesbanco Bank Inc. reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,991 shares of the company’s stock after selling 745 shares during the period. Wesbanco Bank Inc.’s holdings in GE Vernova were worth $4,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GEV. Castleview Partners LLC acquired a new position in GE Vernova during the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new position in GE Vernova during the 2nd quarter valued at about $29,000. Covestor Ltd increased its position in GE Vernova by 61.3% during the 3rd 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 acquired a new position in GE Vernova during the 3rd quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC increased its position in GE Vernova by 175.0% during the 3rd 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. BMO Capital Markets upped their target price on GE Vernova from $360.00 to $420.00 in a research report on Tuesday. Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $367.00 to $374.00 and gave the company an “overweight” rating in a research note on Tuesday, January 14th. HSBC reiterated a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Finally, Truist Financial boosted their price target on GE Vernova from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $326.85.

GE Vernova Trading Up 2.6 %

Shares of GEV stock opened at $426.84 on Thursday. The business’s 50 day moving average is $347.50 and its two-hundred day moving average is $268.31. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $434.10.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 4.22% and a net margin of 3.67%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 1.96 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved 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 buy up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be given 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 0.23%.

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.