Lingohr Asset Management GmbH Trims Position in GE Vernova Inc. (NYSE:GEV)

Lingohr Asset Management GmbH reduced its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,229 shares of the company's stock after selling 1,271 shares during the quarter. GE Vernova comprises 2.2% of Lingohr Asset Management GmbH's holdings, making the stock its 9th largest holding. Lingohr Asset Management GmbH's holdings in GE Vernova were worth $1,066,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its position in shares of 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 during the period. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC raised its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

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GE Vernova Stock Up 3.0 %

GE Vernova stock traded up $10.11 during midday trading on Monday, reaching $343.98. The stock had a trading volume of 3,140,099 shares, compared to its average volume of 3,518,321. The firm has a market capitalization of $94.91 billion and a PE ratio of 61.87. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The firm's 50-day moving average price is $351.71 and its 200 day moving average price is $320.18.

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

GE Vernova announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research analyst reports. Citigroup boosted 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. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They issued a "buy" rating and a $400.00 target price on the stock. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.72.

About GE Vernova

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.