Slocum Gordon & Co LLP Sells 50 Shares of GE Vernova Inc. (NYSE:GEV)

Slocum Gordon & Co LLP cut its holdings in GE Vernova Inc. (NYSE:GEV) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,837 shares of the company’s stock after selling 50 shares during the quarter. Slocum Gordon & Co LLP’s holdings in GE Vernova were worth $933,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. lifted its stake in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares during the last quarter. Hengehold Capital Management LLC lifted its position in GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC grew its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in shares of GE Vernova by 28.0% in the third quarter. Pittenger & Anderson Inc. now owns 160 shares of the company’s stock worth $41,000 after purchasing an additional 35 shares during the period.

GE Vernova Trading Up 1.8 %

NYSE:GEV opened at $374.67 on Friday. The stock has a market capitalization of $103.28 billion and a P/E ratio of 67.39. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The firm has a 50 day moving average of $357.71 and a 200-day moving average of $284.04.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.33 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. BMO Capital Markets increased their price target on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price objective for the company. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $346.22.

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.