Byrne Asset Management LLC Has $1.15 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Byrne Asset Management LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,494 shares of the company’s stock after selling 92 shares during the quarter. Byrne Asset Management LLC’s holdings in GE Vernova were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mather Group LLC. acquired a new stake in GE Vernova during the third quarter worth $531,000. Atomi Financial Group Inc. lifted its holdings in shares of GE Vernova by 10.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,584 shares of the company’s stock worth $404,000 after acquiring an additional 156 shares during the period. Brookstone Capital Management boosted its position in shares of GE Vernova by 17.7% during the 3rd quarter. Brookstone Capital Management now owns 4,466 shares of the company’s stock valued at $1,139,000 after acquiring an additional 671 shares in the last quarter. CWM LLC increased its stake in GE Vernova by 24.2% in the third quarter. CWM LLC now owns 11,037 shares of the company’s stock valued at $2,814,000 after acquiring an additional 2,149 shares during the period. Finally, Wedmont Private Capital raised its position in GE Vernova by 8.9% in the third quarter. Wedmont Private Capital now owns 3,849 shares of the company’s stock worth $1,011,000 after purchasing an additional 316 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $377.99 on Friday. The firm’s 50 day moving average price is $357.71 and its two-hundred day moving average price is $284.04. The stock has a market cap of $104.19 billion and a PE ratio of 67.98. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last announced 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). 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 was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.26%. GE Vernova’s dividend payout ratio is 17.99%.

GE Vernova announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GEV shares. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. BMO Capital Markets upped their target price on shares of GE Vernova from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Finally, Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $346.22.

About GE Vernova

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.