GE Vernova Inc. (NYSE:GEV) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,959,783 shares of the company's stock after selling 3,540,221 shares during the period. Vanguard Group Inc. owned 8.69% of GE Vernova worth $7,881,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC increased its position in 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 buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in 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 in the last quarter. Mutual Advisors LLC increased 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 acquiring an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co boosted its stake in GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after purchasing an additional 31 shares in the last quarter.

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GE Vernova Stock Performance

Shares of NYSE:GEV traded down $7.64 during trading on Tuesday, reaching $335.93. The stock had a trading volume of 2,630,630 shares, compared to its average volume of 3,518,216. The business has a fifty day moving average price of $351.71 and a 200-day moving average price of $320.18. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The stock has a market cap of $92.68 billion and a PE ratio of 60.42.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GEV has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. Royal Bank of Canada reduced their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Finally, Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $348.72.

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.