Mizuho Securities USA LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,126 shares of the company's stock after acquiring an additional 8,307 shares during the quarter. Mizuho Securities USA LLC's holdings in GE Vernova were worth $8,594,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MRP Capital Investments LLC bought a new stake in GE Vernova during the fourth quarter worth about $25,000. Cedar Mountain Advisors LLC raised its holdings 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 buying an additional 39 shares in the last quarter. Fairway Wealth LLC boosted its stake 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 buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Asset Planning Inc bought a new position in GE Vernova during the fourth quarter valued at approximately $35,000.
GE Vernova Stock Performance
Shares of GE Vernova stock traded down $5.64 during midday trading on Tuesday, hitting $337.93. The company had a trading volume of 1,334,094 shares, compared to its average volume of 3,518,216. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock has a market capitalization of $93.24 billion and a P/E ratio of 60.81. The company has a 50 day moving average of $351.71 and a 200 day moving average of $320.18.
GE Vernova (NYSE:GEV - Get Free Report) last released its 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). The company had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on GEV shares. Truist Financial upped their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price objective on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Robert W. Baird initiated coverage on GE Vernova in a research note on Thursday, February 13th. They issued an "outperform" rating and a $448.00 target price for the company. Barclays reduced their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Finally, Evercore ISI boosted their price objective on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.72.
Read Our Latest Research Report on GEV
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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