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GE Vernova Inc. (NYSE:GEV) Shares Sold by WCM Investment Management LLC

From Market Beat

GE Vernova Inc. (NYSE:GEV) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,068,138 shares of the company's stock after selling 492,110 shares during the period. GE Vernova accounts for approximately 1.6% of WCM Investment Management LLC's holdings, making the stock its 23rd biggest holding. WCM Investment Management LLC owned 0.75% of GE Vernova worth $683,023,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of GE Vernova during the 3rd quarter valued at approximately $28,000. Riggs Asset Managment Co. Inc. lifted its stake in GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock worth $39,000 after purchasing an additional 57 shares during the last quarter. Covestor Ltd boosted its holdings in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of GE Vernova during the third quarter worth $31,000.

GE Vernova stock opened at $377.99 on Friday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The firm's 50 day moving average price is $358.59 and its two-hundred day moving average price is $285.51. The firm has a market cap of $104.19 billion and a price-to-earnings ratio of 67.98.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova's payout ratio is 17.99%.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

GEV has been the subject of several research reports. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective for the company. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research report on Monday, October 21st. They set a "buy" rating and a $354.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $346.22.

Get Our Latest Stock Analysis on 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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