Gryphon Financial Partners LLC Trims Stock Position in GE Vernova Inc. (NYSE:GEV)

Gryphon Financial Partners LLC decreased its stake in GE Vernova Inc. (NYSE:GEV) by 39.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,906 shares of the company’s stock after selling 1,268 shares during the quarter. Gryphon Financial Partners LLC’s holdings in GE Vernova were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Covestor Ltd boosted its stake 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 acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC grew its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GEV shares. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Wolfe Research initiated coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 price objective on the stock. in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their price target 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 investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.13.

GE Vernova Price Performance

Shares of NYSE GEV opened at $335.80 on Monday. The company has a market capitalization of $92.65 billion and a P/E ratio of 60.40. The company has a 50 day simple moving average of $363.85 and a 200-day simple moving average of $306.36. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last posted its 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 return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were given a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.30%. GE Vernova’s payout ratio is currently 17.99%.

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

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.