JPMorgan Chase & Co. Has $511.08 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

JPMorgan Chase & Co. reduced its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,553,749 shares of the company's stock after selling 89,538 shares during the period. JPMorgan Chase & Co. owned about 0.56% of GE Vernova worth $511,075,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. MRP Capital Investments LLC acquired a new stake in GE Vernova during the fourth quarter valued at $25,000. Cedar Mountain Advisors LLC raised its stake 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 worth $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC lifted its holdings in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after buying an additional 69 shares in the last quarter. Finally, Asset Planning Inc bought a new stake in shares of GE Vernova in the 4th quarter valued at approximately $35,000.

GE Vernova Stock Up 1.0 %

GE Vernova stock traded up $2.99 on Monday, hitting $305.92. The company's stock had a trading volume of 4,676,277 shares, compared to its average volume of 3,596,112. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The firm has a market cap of $84.40 billion and a P/E ratio of 55.02. The company has a fifty day moving average price of $345.68 and a 200-day moving average price of $323.33.

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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 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 during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova's quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has approved 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 reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. Bank of America raised their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price objective for the company. Truist Financial increased their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Citigroup boosted their price target on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, William Blair reiterated 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $349.54.

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.