528 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Kentucky Trust Co

Kentucky Trust Co acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, Holdings Channel.com reports. The firm acquired 528 shares of the company’s stock, valued at approximately $174,000.

A number of other institutional investors have also modified their holdings of GEV. Waverton Investment Management Ltd raised its holdings in shares of 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 purchasing an additional 66,455 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in GE Vernova during the fourth quarter valued at approximately $206,000. Hanlon Investment Management Inc. acquired a new stake in GE Vernova in the third quarter valued at approximately $1,101,000. Atria Investments Inc grew its holdings in GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC grew its holdings in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research note on Tuesday, January 28th. Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $346.22.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $373.13 on Wednesday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market capitalization of $102.85 billion and a price-to-earnings ratio of 67.11. The stock has a 50 day moving average of $359.53 and a 200 day moving average of $288.77.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid 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 payout ratio is currently 17.99%.

GE Vernova announced that its board has authorized a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.