Consilium Wealth Advisory LLC Reduces Position in GE Vernova Inc. (NYSE:GEV)

Consilium Wealth Advisory LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 0.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,361 shares of the company’s stock after selling 36 shares during the quarter. GE Vernova accounts for about 0.8% of Consilium Wealth Advisory LLC’s holdings, making the stock its 29th biggest position. Consilium Wealth Advisory LLC’s holdings in GE Vernova were worth $1,763,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its stake in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its stake in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in shares of GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after buying an additional 31 shares in the last quarter.

GE Vernova Stock Up 5.5 %

Shares of NYSE:GEV opened at $335.15 on Thursday. The company has a market cap of $92.47 billion and a P/E ratio of 60.28. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The business has a fifty day simple moving average of $364.13 and a 200-day simple moving average of $303.37.

GE Vernova (NYSE:GEV) last posted its quarterly 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEV. BMO Capital Markets lifted their price target on GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective for the company. in a report on Friday, January 24th. Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

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.