Allegheny Financial Group Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Allegheny Financial Group lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,099 shares of the company’s stock after selling 37 shares during the period. Allegheny Financial Group’s holdings in GE Vernova were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Wahed Invest LLC raised its holdings in GE Vernova by 6.2% in the 4th quarter. Wahed Invest LLC now owns 6,915 shares of the company’s stock worth $2,275,000 after purchasing an additional 405 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in GE Vernova in the fourth quarter worth about $2,642,000. Keel Point LLC lifted its holdings in GE Vernova by 25.0% in the fourth quarter. Keel Point LLC now owns 1,090 shares of the company’s stock worth $359,000 after buying an additional 218 shares during the period. Westbourne Investments Inc. bought a new stake in GE Vernova during the 4th quarter valued at approximately $1,993,000. Finally, Freestone Grove Partners LP purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $26,461,000.

GE Vernova Stock Up 3.7 %

NYSE GEV opened at $396.48 on Friday. The company has a 50-day moving average price of $322.79 and a 200-day moving average price of $336.27. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $447.50. The firm has a market capitalization of $108.21 billion and a P/E ratio of 71.31.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.47) earnings per share. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.25%. GE Vernova’s dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GEV shares. Jefferies Financial Group lifted their price target on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. TD Cowen decreased their price target on shares of GE Vernova from $405.00 to $390.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Morgan Stanley reissued an “overweight” rating and set a $422.00 price objective (up previously from $400.00) on shares of GE Vernova in a research note on Thursday, April 24th. Finally, Royal Bank of Canada decreased their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $369.22.

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.