Sei Investments Co. raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,290 shares of the company's stock after buying an additional 29,408 shares during the quarter. Sei Investments Co. owned approximately 0.07% of GE Vernova worth $61,936,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Howard Capital Management Group LLC acquired a new stake in GE Vernova in the third quarter valued at $213,000. Thrivent Financial for Lutherans lifted its stake in shares of GE Vernova by 24.0% during the third quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company's stock valued at $4,311,000 after buying an additional 3,274 shares during the period. Jennison Associates LLC boosted its holdings in shares of GE Vernova by 20.2% during the third quarter. Jennison Associates LLC now owns 10,298 shares of the company's stock worth $2,626,000 after purchasing an additional 1,733 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of GE Vernova by 7.6% during the 3rd quarter. Meridian Wealth Management LLC now owns 3,127 shares of the company's stock worth $797,000 after acquiring an additional 222 shares during the period. Finally, Nicolet Advisory Services LLC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at $251,000.
GE Vernova Stock Down 2.5 %
Shares of NYSE GEV traded down $8.52 on Tuesday, reaching $335.05. 1,976,639 shares of the company's stock traded hands, compared to its average volume of 3,518,216. The business's 50 day simple moving average is $351.71 and its two-hundred day simple moving average is $320.18. The company has a market cap of $92.44 billion and a price-to-earnings ratio of 60.26. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50.
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 (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 company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova's revenue was up 5.1% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
A number of brokerages have recently commented on GEV. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group raised their price target on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, Citigroup boosted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued 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 a consensus price target of $348.72.
Check Out Our Latest Report on GEV
GE Vernova Profile
(
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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