TCI Wealth Advisors Inc. Sells 60 Shares of GE Vernova Inc. (NYSE:GEV)

TCI Wealth Advisors Inc. cut its stake in GE Vernova Inc. (NYSE:GEV) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,122 shares of the company’s stock after selling 60 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in GE Vernova were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. CMG Global Holdings LLC boosted its holdings in GE Vernova by 1.7% in the fourth quarter. CMG Global Holdings LLC now owns 7,362 shares of the company’s stock worth $2,422,000 after purchasing an additional 121 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of GE Vernova by 91.8% in the fourth quarter. Cibc World Market Inc. now owns 60,131 shares of the company’s stock worth $19,779,000 after acquiring an additional 28,786 shares during the period. Clarity Financial LLC increased its position in GE Vernova by 59.4% during the fourth quarter. Clarity Financial LLC now owns 43,088 shares of the company’s stock valued at $14,173,000 after acquiring an additional 16,050 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in GE Vernova during the fourth quarter valued at $1,621,000. Finally, OLD National Bancorp IN bought a new position in GE Vernova in the fourth quarter valued at about $326,000.

GE Vernova Price Performance

NYSE:GEV opened at $382.73 on Friday. The company has a market cap of $105.50 billion and a price-to-earnings ratio of 68.84. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The stock’s 50 day simple moving average is $354.82 and its two-hundred day simple moving average is $277.23.

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

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued 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 payout ratio is 17.99%.

Analyst Ratings Changes

GEV has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $342.94.

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.