Asio Capital LLC Has $4.93 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Asio Capital LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,997 shares of the company’s stock after selling 199 shares during the period. Asio Capital LLC’s holdings in GE Vernova were worth $4,933,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mountaineer Partners Management LLC bought a new position in GE Vernova during the third quarter worth $2,507,296,000. Legal & General Group Plc acquired a new position in GE Vernova in the second quarter worth about $293,699,000. International Assets Investment Management LLC lifted its position in shares of 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 during the period. WCM Investment Management LLC lifted its holdings in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of GE Vernova by 4,735.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 725,250 shares of the company’s stock worth $124,388,000 after purchasing an additional 710,250 shares in the last quarter.

GE Vernova Stock Down 4.2 %

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

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date is Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GEV shares. JPMorgan Chase & Co. raised their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial increased their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $376.00 target price on shares of GE Vernova in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $339.73.

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.