GE Vernova Inc. (NYSE:GEV) Position Lessened by Bornite Capital Management LP

Bornite Capital Management LP cut its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,400 shares of the company's stock after selling 2,100 shares during the period. GE Vernova comprises approximately 4.7% of Bornite Capital Management LP's portfolio, making the stock its 6th largest position. Bornite Capital Management LP's holdings in GE Vernova were worth $34,998,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Yoffe Investment Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $303,000. ExodusPoint Capital Management LP acquired a new stake in GE Vernova during the 4th quarter worth $11,948,000. Arete Wealth Advisors LLC grew its position in GE Vernova by 185.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 4,646 shares of the company's stock worth $1,540,000 after purchasing an additional 3,020 shares during the last quarter. World Investment Advisors increased its stake in GE Vernova by 7.6% in the fourth quarter. World Investment Advisors now owns 3,096 shares of the company's stock valued at $1,018,000 after purchasing an additional 220 shares during the period. Finally, Westpac Banking Corp raised its holdings in shares of GE Vernova by 378.6% in the fourth quarter. Westpac Banking Corp now owns 4,102 shares of the company's stock valued at $1,349,000 after buying an additional 3,245 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GEV shares. CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating on the stock. Guggenheim raised GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 target price on the stock in a report on Wednesday, March 5th. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They set a "buy" rating and a $425.00 price target for the company. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, Susquehanna started coverage on shares of GE Vernova in a research report on Wednesday. They set a "positive" rating and a $370.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $349.20.

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GE Vernova Stock Performance

NYSE:GEV traded down $26.26 during mid-day trading on Friday, hitting $271.40. 8,093,637 shares of the company's stock traded hands, compared to its average volume of 3,503,208. The company has a market cap of $74.19 billion and a PE ratio of 48.81. The firm's 50 day simple moving average is $334.07 and its 200 day simple moving average is $324.74. 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 issued 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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's quarterly revenue was up 5.1% on a year-over-year basis. On average, 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 approved a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is 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.