MBA Advisors LLC Sells 977 Shares of GE Vernova Inc. (NYSE:GEV)

MBA Advisors LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 36.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,707 shares of the company’s stock after selling 977 shares during the quarter. MBA Advisors LLC’s holdings in GE Vernova were worth $561,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Castleview Partners LLC bought a new position in shares of GE Vernova in the third quarter worth about $28,000. Covestor Ltd lifted its position in shares of GE Vernova by 61.3% during the third 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 bought a new stake in shares of GE Vernova during the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of GE Vernova by 175.0% in the third 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 Stock Up 0.8 %

Shares of NYSE:GEV opened at $377.99 on Monday. The firm has a market cap of $104.19 billion and a price-to-earnings ratio of 67.98. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company’s fifty day simple moving average is $358.59 and its 200 day simple moving average is $286.31.

GE Vernova (NYSE:GEV) last released its quarterly 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 analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. Citigroup increased their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company raised their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Johnson Rice initiated coverage on GE Vernova in a report on Friday. They set a “buy” rating and a $425.00 price objective for the company. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Finally, TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $346.22.

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.