Jamison Private Wealth Management Inc. Has $697,000 Holdings in GE Vernova Inc. (NYSE:GEV)

Jamison Private Wealth Management Inc. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,119 shares of the company’s stock after selling 147 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in GE Vernova were worth $697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Castleview Partners LLC acquired a new position in shares of GE Vernova during the third quarter valued at $28,000. Covestor Ltd increased its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new stake in GE Vernova in the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised 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 worth $31,000 after purchasing an additional 77 shares during the last quarter.

GE Vernova Stock Down 4.2 %

NYSE GEV opened at $419.27 on Friday. The firm’s 50 day moving average is $353.38 and its 200-day moving average is $272.29. The company has a market capitalization of $115.57 billion and a PE ratio of 75.41. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

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 the consensus estimate of $2.30 by ($0.57). The business 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%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th will be paid a $0.25 dividend. 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 17.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GEV shares. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup increased their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a research note on Friday. Finally, HSBC reissued a “hold” rating and issued a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Eight research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.