Chevy Chase Trust Holdings LLC Decreases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Chevy Chase Trust Holdings LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,695 shares of the company’s stock after selling 2,640 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in GE Vernova were worth $48,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Asset Planning Inc purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $35,000. Catalyst Financial Partners LLC raised its holdings in shares of GE Vernova by 2.7% during the 4th quarter. Catalyst Financial Partners LLC now owns 1,444 shares of the company’s stock worth $475,000 after acquiring an additional 38 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of GE Vernova by 7.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 109,824 shares of the company’s stock worth $36,659,000 after acquiring an additional 7,970 shares in the last quarter. Guardian Asset Advisors LLC raised its holdings in shares of GE Vernova by 36.4% during the 4th quarter. Guardian Asset Advisors LLC now owns 1,519 shares of the company’s stock worth $500,000 after acquiring an additional 405 shares in the last quarter. Finally, Aljian Capital Management LLC raised its holdings in shares of GE Vernova by 10.3% during the 4th quarter. Aljian Capital Management LLC now owns 3,207 shares of the company’s stock worth $1,055,000 after acquiring an additional 300 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $367.43 on Friday. The stock has a market capitalization of $101.28 billion and a P/E ratio of 66.08. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The business has a fifty day moving average price of $361.32 and a 200 day moving average price of $291.28.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio (DPR) is currently 17.99%.

Wall Street Analyst Weigh In

GEV has been the topic of several analyst reports. Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 target price on the stock. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley boosted their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $350.13.

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.