Platform Technology Partners Sells 1,132 Shares of GE Vernova Inc. (NYSE:GEV)

Platform Technology Partners lowered its stake in GE Vernova Inc. (NYSE:GEV) by 29.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,744 shares of the company’s stock after selling 1,132 shares during the period. Platform Technology Partners’ holdings in GE Vernova were worth $903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Mather Group LLC. bought a new stake in GE Vernova in the 3rd quarter valued at $531,000. Atomi Financial Group Inc. grew its position in GE Vernova by 10.9% in the third quarter. Atomi Financial Group Inc. now owns 1,584 shares of the company’s stock valued at $404,000 after purchasing an additional 156 shares in the last quarter. Brookstone Capital Management grew its position in GE Vernova by 17.7% in the third quarter. Brookstone Capital Management now owns 4,466 shares of the company’s stock valued at $1,139,000 after purchasing an additional 671 shares in the last quarter. CWM LLC increased its stake in GE Vernova by 24.2% in the 3rd quarter. CWM LLC now owns 11,037 shares of the company’s stock valued at $2,814,000 after buying an additional 2,149 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in GE Vernova by 8.9% during the 3rd quarter. Wedmont Private Capital now owns 3,849 shares of the company’s stock worth $1,011,000 after buying an additional 316 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEV. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. TD Cowen initiated coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Jefferies Financial Group increased their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Truist Financial increased their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Stock Performance

NYSE:GEV opened at $377.99 on Friday. The company has a market capitalization of $104.19 billion and a PE ratio of 67.98. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The company has a 50 day simple moving average of $357.71 and a two-hundred day simple moving average of $284.04.

GE Vernova (NYSE:GEV) last announced its 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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.33 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed 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 is 17.99%.

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

GE Vernova 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.