Callan Capital LLC Cuts Position in GE Vernova Inc. (NYSE:GEV)

Callan Capital LLC decreased its position in GE Vernova Inc. (NYSE:GEV) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 783 shares of the company’s stock after selling 107 shares during the quarter. Callan Capital LLC’s holdings in GE Vernova were worth $258,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp grew its position in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the 3rd quarter worth $2,507,296,000. Geode Capital Management LLC lifted its position in GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after acquiring an additional 80,479 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in GE Vernova by 83.1% in 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 last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley lifted their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America boosted their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group upped their price target 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 investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Stock Performance

Shares of GEV opened at $327.68 on Monday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a market capitalization of $90.41 billion and a PE ratio of 58.93. The stock has a fifty day moving average of $364.41 and a two-hundred day moving average of $301.20.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. GE Vernova’s dividend payout ratio (DPR) is 17.99%.

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

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.