Delta Financial Group Inc. Sells 82 Shares of GE Vernova Inc. (NYSE:GEV)

Delta Financial Group Inc. lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,725 shares of the company’s stock after selling 82 shares during the quarter. Delta Financial Group Inc.’s holdings in GE Vernova were worth $896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cedar Mountain Advisors LLC raised its position in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Asset Planning Inc acquired a new position in GE Vernova in the 4th quarter valued at approximately $35,000. Riggs Asset Managment Co. Inc. lifted its position in shares of GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after acquiring an additional 57 shares during the period. Finally, Covestor Ltd grew its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares in the last quarter.

GE Vernova Stock Down 8.9 %

NYSE:GEV opened at $327.68 on Friday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The firm has a market capitalization of $90.41 billion and a P/E ratio of 58.93. The stock’s fifty day simple moving average is $364.41 and its 200-day simple moving average is $300.25.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America upped their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $350.13.

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.