YHB Investment Advisors Inc. Cuts Holdings in GE Vernova Inc. (NYSE:GEV)

YHB Investment Advisors Inc. decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 18.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,249 shares of the company’s stock after selling 1,601 shares during the period. YHB Investment Advisors Inc.’s holdings in GE Vernova were worth $2,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Legacy Bridge LLC raised its position in shares of GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after acquiring an additional 4,776 shares in the last quarter. Berkshire Bank boosted its position in GE Vernova by 83.9% during the fourth quarter. Berkshire Bank now owns 2,256 shares of the company’s stock valued at $742,000 after purchasing an additional 1,029 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in GE Vernova by 7.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 2,395 shares of the company’s stock valued at $788,000 after purchasing an additional 158 shares during the last quarter. Parsons Capital Management Inc. RI raised its holdings in GE Vernova by 5.4% in the fourth quarter. Parsons Capital Management Inc. RI now owns 1,691 shares of the company’s stock worth $556,000 after purchasing an additional 87 shares in the last quarter. Finally, CKW Financial Group lifted its position in shares of GE Vernova by 58.6% during the fourth quarter. CKW Financial Group now owns 276 shares of the company’s stock valued at $91,000 after buying an additional 102 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating and set a $380.00 target price on the stock. in a research note on Friday. Finally, Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.73.

GE Vernova Price Performance

Shares of NYSE GEV opened at $329.63 on Tuesday. The stock has a market capitalization of $90.86 billion and a price-to-earnings ratio of 59.29. The firm’s 50 day simple moving average is $353.38 and its 200-day simple moving average is $273.64. 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). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 20th will be issued a $0.25 dividend. The ex-dividend date is 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 17.99%.

GE Vernova announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.