GE Vernova Inc. (NYSE:GEV) Shares Sold by Busey Bank

Busey Bank lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,821 shares of the company’s stock after selling 286 shares during the period. Busey Bank’s holdings in GE Vernova were worth $928,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new stake in GE Vernova during the third quarter valued at $28,000. Covestor Ltd grew its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC purchased a new position in GE Vernova in the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC raised its position 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 worth $31,000 after acquiring an additional 77 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Barclays upped their target price on GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Wolfe Research assumed coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. 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 report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $342.94.

GE Vernova Price Performance

Shares of GEV stock opened at $382.73 on Friday. The firm’s 50-day moving average is $353.99 and its two-hundred day moving average is $276.49. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The company has a market capitalization of $105.50 billion and a PE ratio of 68.84.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business 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%. The firm’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts forecast that GE Vernova Inc. will post 6.61 EPS for the current year.

GE Vernova Dividend Announcement

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

GE Vernova announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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.