American Century Companies Inc. Cuts Position in GE Vernova Inc. (NYSE:GEV)

American Century Companies Inc. trimmed its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 11.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 576,545 shares of the company's stock after selling 74,835 shares during the quarter. American Century Companies Inc. owned 0.21% of GE Vernova worth $189,643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC lifted its stake in GE Vernova by 46.6% in the fourth quarter. Mizuho Securities USA LLC now owns 26,126 shares of the company's stock worth $8,594,000 after acquiring an additional 8,307 shares during the period. Cyrus J. Lawrence LLC purchased a new stake in shares of GE Vernova in the 4th quarter worth approximately $5,594,000. Virtu Financial LLC boosted its stake in shares of GE Vernova by 55.9% during the fourth quarter. Virtu Financial LLC now owns 9,058 shares of the company's stock valued at $2,979,000 after purchasing an additional 3,249 shares in the last quarter. Quantbot Technologies LP raised its stake in GE Vernova by 64.0% in the fourth quarter. Quantbot Technologies LP now owns 9,877 shares of the company's stock worth $3,249,000 after buying an additional 3,853 shares in the last quarter. Finally, Sciencast Management LP purchased a new stake in GE Vernova during the fourth quarter worth $394,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. Citigroup lifted their price target on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. BMO Capital Markets cut their target price on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Guggenheim upgraded shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target on the stock in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group boosted 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, January 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $348.72.

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GE Vernova Trading Down 2.2 %

GEV traded down $7.64 during midday trading on Tuesday, hitting $335.93. 2,283,784 shares of the company were exchanged, compared to its average volume of 3,518,216. The firm has a market capitalization of $92.68 billion and a price-to-earnings ratio of 60.42. The company's 50 day simple moving average is $351.71 and its 200 day simple moving average is $320.18. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year 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 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. The company's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

GE Vernova 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.