Elo Mutual Pension Insurance Co Sells 972 Shares of GE Vernova Inc. (NYSE:GEV)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,078 shares of the company's stock after selling 972 shares during the period. Elo Mutual Pension Insurance Co's holdings in GE Vernova were worth $8,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Armstrong Advisory Group Inc. boosted its position in shares of GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after buying an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its holdings in shares of GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC raised its holdings in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock valued at $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its position in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after purchasing an additional 31 shares during the period.

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GE Vernova Price Performance

Shares of GE Vernova stock traded down $2.81 during trading on Monday, reaching $300.12. 1,884,118 shares of the stock traded hands, compared to its average volume of 4,062,076. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The business has a fifty day simple moving average of $345.68 and a two-hundred day simple moving average of $323.33. The company has a market capitalization of $82.80 billion and a price-to-earnings ratio of 53.97.

GE Vernova (NYSE:GEV - Get Free Report) last released 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). The firm had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue was up 5.1% on a year-over-year basis. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research reports. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective for the company. Robert W. Baird started coverage on GE Vernova in a research report on Thursday, February 13th. They issued an "outperform" rating and a $448.00 target price on the stock. Jefferies Financial Group upped their price target on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $349.54.

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.