Albion Financial Group UT Lowers Position in GE Vernova Inc. $GEV

Albion Financial Group UT decreased its position in GE Vernova Inc. (NYSE:GEV) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,936 shares of the company’s stock after selling 615 shares during the period. Albion Financial Group UT’s holdings in GE Vernova were worth $7,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC raised its position in GE Vernova by 300.0% during the third quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock worth $1,078,000 after acquiring an additional 1,413 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in GE Vernova by 25.3% during the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock worth $9,990,000 after acquiring an additional 3,278 shares during the last quarter. Kercheville Advisors LLC raised its position in GE Vernova by 238.3% during the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock worth $3,016,000 after acquiring an additional 3,455 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in GE Vernova during the third quarter worth about $18,601,000. Finally, US Bancorp DE raised its position in GE Vernova by 2.2% during the third quarter. US Bancorp DE now owns 100,542 shares of the company’s stock worth $61,824,000 after acquiring an additional 2,163 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Robert W. Baird set a $923.00 target price on shares of GE Vernova and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their target price on shares of GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Erste Group Bank upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Tuesday, March 24th. Finally, Mizuho set a $714.00 price objective on shares of GE Vernova in a research report on Tuesday, February 3rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $863.61.

GE Vernova Stock Down 0.4%

GEV opened at $894.93 on Tuesday. GE Vernova Inc. has a 52-week low of $253.08 and a 52-week high of $948.38. The company has a 50 day moving average of $828.08 and a two-hundred day moving average of $693.59. The company has a market cap of $241.21 billion, a P/E ratio of 50.28, a P/E/G ratio of 3.54 and a beta of 1.43.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, beating the consensus estimate of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 11.24%.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.