Kingswood Wealth Advisors LLC Cuts Stake in GE Vernova Inc. (NYSE:GEV)

Kingswood Wealth Advisors LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 72.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,482 shares of the company’s stock after selling 6,452 shares during the period. Kingswood Wealth Advisors LLC’s holdings in GE Vernova were worth $817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $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 worth $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $31,000.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. Guggenheim downgraded shares of 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, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday. Citigroup increased their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Stock Performance

GEV stock opened at $354.80 on Wednesday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock has a market capitalization of $97.80 billion and a price-to-earnings ratio of 63.81. The stock’s fifty day moving average is $353.47 and its two-hundred day moving average is $274.72.

GE Vernova (NYSE:GEV) last announced 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock 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 an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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.