Athena Investment Management Decreases Holdings in GE Vernova Inc. (NYSE:GEV)

Athena Investment Management lowered its stake in GE Vernova Inc. (NYSE:GEV) by 25.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,652 shares of the company’s stock after selling 565 shares during the period. Athena Investment Management’s holdings in GE Vernova were worth $543,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. grew its position in shares of GE Vernova by 3.5% in the fourth 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 period. Hengehold Capital Management LLC raised its stake in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc raised its stake in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC raised its stake in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after acquiring an additional 31 shares during the period. Finally, WASHINGTON TRUST Co grew its holdings 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 purchasing an additional 31 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Barclays increased their price target on shares of GE Vernova from $420.00 to $487.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Johnson Rice began coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $350.13.

GE Vernova Price Performance

NYSE GEV opened at $335.80 on Friday. The company has a 50 day simple moving average of $363.85 and a 200-day simple moving average of $304.63. The firm has a market capitalization of $92.65 billion and a price-to-earnings ratio of 60.40. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

GE Vernova announced that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.