Harvey Investment Co. LLC Sells 46 Shares of GE Vernova Inc. (NYSE:GEV)

Harvey Investment Co. LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,800 shares of the company’s stock after selling 46 shares during the period. Harvey Investment Co. LLC’s holdings in GE Vernova were worth $592,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Waverton Investment Management Ltd raised its holdings in GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after acquiring an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new stake in GE Vernova during the fourth quarter worth about $206,000. Hanlon Investment Management Inc. acquired a new stake in GE Vernova during the third quarter worth about $1,101,000. Atria Investments Inc increased its holdings in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares during the period. Finally, Fractal Investments LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at approximately $1,530,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GEV. Evercore ISI lifted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.22.

GE Vernova Stock Performance

GEV stock opened at $374.67 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock’s 50 day simple moving average is $357.71 and its 200 day simple moving average is $284.04. The company has a market cap of $103.28 billion and a P/E ratio of 67.39.

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 analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current year.

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

GE Vernova Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 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.