Teacher Retirement System of Texas cut its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 51.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,933 shares of the company's stock after selling 104,725 shares during the quarter. Teacher Retirement System of Texas' holdings in GE Vernova were worth $32,213,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its position 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 increased its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the period. Darwin Wealth Management LLC purchased a new stake in GE Vernova during the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC grew its position in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after buying an additional 77 shares during the period.
GE Vernova Trading Down 2.2 %
Shares of GE Vernova stock traded down $7.64 during trading hours on Tuesday, reaching $335.93. The stock had a trading volume of 2,630,630 shares, compared to its average volume of 3,518,216. The firm has a market capitalization of $92.68 billion and a price-to-earnings ratio of 60.42. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The firm has a 50 day simple moving average of $351.71 and a two-hundred day simple moving average of $320.18.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $10.70 billion. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova announced that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on GEV shares. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Jefferies Financial Group lifted their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a "buy" rating in a report on Friday, December 13th. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets lowered their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.72.
Check Out Our Latest Analysis 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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