iA Global Asset Management Inc. trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,700 shares of the company's stock after selling 3,680 shares during the quarter. iA Global Asset Management Inc.'s holdings in GE Vernova were worth $9,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also bought and sold shares of the company. Howard Capital Management Group LLC bought a new position in shares of GE Vernova during the third quarter valued at about $213,000. Empowered Funds LLC grew its position in shares of GE Vernova by 6.0% in the 3rd quarter. Empowered Funds LLC now owns 4,352 shares of the company's stock worth $1,110,000 after buying an additional 245 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of GE Vernova by 24.0% during the third quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company's stock valued at $4,311,000 after buying an additional 3,274 shares during the period. Caprock Group LLC raised its holdings in shares of GE Vernova by 0.4% during the third quarter. Caprock Group LLC now owns 15,652 shares of the company's stock valued at $3,991,000 after acquiring an additional 62 shares in the last quarter. Finally, OneAscent Financial Services LLC purchased a new stake in GE Vernova in the third quarter worth $278,000.
GE Vernova Stock Performance
Shares of NYSE GEV traded up $10.11 during midday trading on Monday, hitting $343.98. 3,140,099 shares of the stock traded hands, compared to its average volume of 3,518,321. The firm has a market capitalization of $94.91 billion and a P/E ratio of 61.87. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The firm has a 50-day moving average of $351.71 and a two-hundred day moving average of $320.18.
GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
GEV has been the subject of several research analyst reports. Royal Bank of Canada dropped their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Evercore ISI raised their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. The Goldman Sachs Group upped their target price on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Jefferies Financial Group raised their target price on GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They issued a "buy" rating and a $425.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.72.
View Our Latest Stock Analysis on GE Vernova
GE Vernova 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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