Linden Thomas Advisory Services LLC Lowers Stock Position in GE Vernova Inc. (NYSE:GEV)

Linden Thomas Advisory Services LLC trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,902 shares of the company’s stock after selling 89 shares during the period. Linden Thomas Advisory Services LLC’s holdings in GE Vernova were worth $3,257,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GEV. Castleview Partners LLC purchased a new stake in GE Vernova in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at $29,000. Covestor Ltd raised its holdings in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova during the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC boosted its holdings 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 acquiring an additional 77 shares during the period.

GE Vernova Price Performance

GEV stock opened at $419.27 on Friday. The company has a market cap of $115.57 billion and a price-to-earnings ratio of 75.41. The company has a fifty day moving average price of $353.38 and a 200 day moving average price of $272.29. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GEV shares. TD Cowen assumed coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday. Jefferies Financial Group lifted their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $339.73.

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.