American Assets Investment Management LLC lessened its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,755 shares of the company's stock after selling 3,250 shares during the quarter. American Assets Investment Management LLC's holdings in GE Vernova were worth $5,511,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. State Street Corp lifted its position in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the third quarter worth approximately $2,507,296,000. Geode Capital Management LLC lifted its position in shares of GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock worth $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in GE Vernova by 3.7% in the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company's stock valued at $533,257,000 after buying an additional 71,067 shares during the period.
GE Vernova Price Performance
GEV stock traded down $2.62 during trading on Friday, reaching $334.21. 3,010,670 shares of the company were exchanged, compared to its average volume of 3,519,873. The company has a 50-day moving average of $352.15 and a two-hundred day moving average of $317.44. The company has a market capitalization of $92.21 billion and a price-to-earnings ratio of 60.11. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm 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. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
Analysts Set New Price Targets
GEV has been the subject of several recent analyst reports. Marathon Capitl raised shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research note on Thursday, January 23rd. Royal Bank of Canada lowered their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 target price for the company. Finally, Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $348.72.
Check Out Our Latest Stock Report on GE Vernova
About GE Vernova
(
Free Report)
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.
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