IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 79.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,795 shares of the company's stock after selling 10,728 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in GE Vernova were worth $919,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in GEV. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at about $25,000. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. Fairway Wealth LLC grew its position in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $35,000.
GE Vernova Stock Up 1.0 %
Shares of GEV stock opened at $305.92 on Tuesday. The firm has a market capitalization of $84.40 billion and a price-to-earnings ratio of 55.02. The firm has a fifty day moving average of $343.76 and a 200-day moving average of $323.97. 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 issued 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Marathon Capitl raised GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. BMO Capital Markets decreased their target price on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Baird R W upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $349.54.
Check Out Our Latest Report on GEV
About GE Vernova
(
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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