Skylands Capital LLC Cuts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Skylands Capital LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 84.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 500 shares of the company’s stock after selling 2,700 shares during the period. Skylands Capital LLC’s holdings in GE Vernova were worth $164,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. lifted its position in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares during the last quarter. Hengehold Capital Management LLC raised its stake in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc lifted its position in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC lifted its position in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after acquiring an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on GEV. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating on the stock. Jefferies Financial Group increased 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. 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 report on Thursday, January 23rd. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Price Performance

Shares of NYSE GEV opened at $315.74 on Tuesday. The stock has a market capitalization of $87.11 billion and a price-to-earnings ratio of 56.79. The firm’s 50 day simple moving average is $363.97 and its 200-day simple moving average is $302.17. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is presently 17.99%.

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.