Court Place Advisors LLC Has $453,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Court Place Advisors LLC trimmed its position in GE Vernova Inc. (NYSE:GEV) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,378 shares of the company’s stock after selling 178 shares during the quarter. Court Place Advisors LLC’s holdings in GE Vernova were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans bought a new position in GE Vernova in the 2nd quarter worth $2,339,000. Public Sector Pension Investment Board acquired a new stake in shares of GE Vernova in the second quarter valued at about $1,800,000. Squarepoint Ops LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $5,927,000. AXA S.A. bought a new position in shares of GE Vernova in the second quarter worth about $3,472,000. Finally, AQR Capital Management LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $22,066,000.

GE Vernova Stock Performance

GEV opened at $329.63 on Tuesday. The firm has a market cap 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 twelve month low of $115.00 and a twelve month high of $447.50.

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 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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.61 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a share buyback 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 usually an indication that the company’s board believes its stock is undervalued.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price on the stock. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $339.73.

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.