Clearbridge Investments LLC Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Clearbridge Investments LLC decreased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 99.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,717 shares of the company's stock after selling 477,860 shares during the period. Clearbridge Investments LLC's holdings in GE Vernova were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Physician Wealth Advisors Inc. acquired a new stake in shares of GE Vernova during the fourth quarter worth $70,000. Dorsey Wright & Associates grew its holdings in GE Vernova by 4.2% during the 4th quarter. Dorsey Wright & Associates now owns 21,664 shares of the company's stock worth $7,126,000 after acquiring an additional 873 shares during the period. Portland Global Advisors LLC bought a new position in shares of GE Vernova in the 4th quarter worth about $232,000. Schroder Investment Management Group lifted its stake in shares of GE Vernova by 5.7% in the 4th quarter. Schroder Investment Management Group now owns 1,465,804 shares of the company's stock valued at $482,147,000 after purchasing an additional 78,650 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of GE Vernova by 555.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company's stock valued at $187,404,000 after purchasing an additional 482,787 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating for the company. Guggenheim raised GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target on the stock in a research note on Wednesday, March 5th. Truist Financial set a $440.00 price objective on GE Vernova in a research note on Thursday, March 27th. JPMorgan Chase & Co. upped their target price on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Finally, 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 research report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $349.20.

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GE Vernova Stock Performance

GEV traded down $26.26 during midday trading on Friday, reaching $271.40. The company had a trading volume of 8,093,637 shares, compared to its average volume of 3,503,208. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The business has a 50-day moving average price of $337.02 and a two-hundred day moving average price of $324.45. The stock has a market cap of $74.19 billion and a PE ratio of 48.81.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 firm had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

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.