Huntington National Bank decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,190 shares of the company's stock after selling 2,919 shares during the quarter. Huntington National Bank's holdings in GE Vernova were worth $8,944,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Armstrong Advisory Group Inc. raised its holdings in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock valued at $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC raised its stake in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock valued at $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock worth $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC boosted its position in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock worth $888,000 after purchasing an additional 31 shares during the period. Finally, WASHINGTON TRUST Co grew its holdings in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock valued at $560,000 after purchasing an additional 31 shares during the last quarter.
GE Vernova Trading Down 8.8 %
GEV stock traded down $26.26 during trading on Friday, hitting $271.40. The company had a trading volume of 8,093,637 shares, compared to its average volume of 3,545,680. The company has a fifty day moving average price of $337.02 and a two-hundred day moving average price of $324.45. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The company has a market cap of $74.19 billion and a P/E ratio of 48.81.
GE Vernova (NYSE:GEV - Get Free Report) last posted its 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). 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%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova announced that its board has authorized a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
A number of analysts have recently weighed in on GEV shares. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target on the stock. Susquehanna started coverage on GE Vernova in a research report on Wednesday. They set a "positive" rating and a $370.00 price objective for the company. Finally, Barclays decreased their target price on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $349.20.
Read Our Latest Stock Report on GE Vernova
GE Vernova Company 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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