Optimist Retirement Group LLC Has $293,000 Stock Position in GE Vernova Inc. (NYSE:GEV)

Optimist Retirement Group LLC cut its position in GE Vernova Inc. (NYSE:GEV) by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 891 shares of the company’s stock after selling 85 shares during the period. Optimist Retirement Group LLC’s holdings in GE Vernova were worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Castleview Partners LLC bought a new position in shares of GE Vernova in the 3rd quarter worth $28,000. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% in 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. Darwin Wealth Management LLC acquired a new stake in GE Vernova in the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC increased its stake in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares in the last quarter.

GE Vernova Trading Up 3.1 %

NYSE:GEV opened at $367.43 on Thursday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The firm’s 50 day moving average is $356.29 and its 200 day moving average is $282.82. The stock has a market capitalization of $101.28 billion and a PE ratio of 66.08.

GE Vernova (NYSE:GEV) last issued its 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 firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current year.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Announces Dividend

The firm 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 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GEV. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Barclays lifted their target price on GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $342.94.

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.