Intech Investment Management LLC Sells 44,747 Shares of GE Vernova Inc. (NYSE:GEV)

Intech Investment Management LLC reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 82.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,782 shares of the company's stock after selling 44,747 shares during the period. Intech Investment Management LLC's holdings in GE Vernova were worth $3,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Mountaineer Partners Management LLC bought a new position in GE Vernova in the third quarter worth approximately $2,507,296,000. Raymond James Financial Inc. bought a new position in GE Vernova in the 4th quarter worth $219,187,000. FMR LLC lifted its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock valued at $462,073,000 after purchasing an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock worth $203,134,000 after buying an additional 456,879 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Bank of America increased their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group raised their price target on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $348.72.

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GE Vernova Price Performance

Shares of GEV traded up $10.11 during midday trading on Monday, hitting $343.98. The stock had a trading volume of 3,140,099 shares, compared to its average volume of 3,518,318. The stock's 50 day moving average is $352.15 and its 200 day moving average is $319.15. The firm has a market cap of $94.91 billion and a PE ratio of 61.87. 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 quarterly earnings data 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). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect 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.

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.