ExodusPoint Capital Management LP acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,324 shares of the company's stock, valued at approximately $11,948,000.
A number of other institutional investors also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new position in shares of GE Vernova in the 4th quarter worth approximately $206,000. GPS Wealth Strategies Group LLC boosted its stake in shares of GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after acquiring an additional 822 shares during the last quarter. Yarbrough Capital LLC grew its position in shares of GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after acquiring an additional 1,160 shares during the period. Legacy Bridge LLC increased its stake in shares of GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after purchasing an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after purchasing an additional 1,408 shares in the last quarter.
GE Vernova Stock Performance
GEV traded down $26.26 during trading on Friday, hitting $271.40. 8,093,637 shares of the stock were exchanged, compared to its average volume of 3,503,208. The firm has a market cap of $74.19 billion and a price-to-earnings ratio of 48.81. The firm has a 50 day simple moving average of $334.07 and a 200 day simple moving average of $324.74. 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 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 firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have commented on GEV shares. Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. The Goldman Sachs Group increased 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. Finally, Evercore ISI upped their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $349.20.
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GE Vernova Company Profile
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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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