Vinva Investment Management Ltd decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,660 shares of the company's stock after selling 3,718 shares during the period. Vinva Investment Management Ltd's holdings in GE Vernova were worth $3,190,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the 3rd quarter worth about $2,507,296,000. Raymond James Financial Inc. bought a new position in shares of GE Vernova during the fourth quarter worth approximately $219,187,000. FMR LLC raised its position in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after buying an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock valued at $462,073,000 after buying an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock worth $203,134,000 after buying an additional 456,879 shares in the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Wolfe Research initiated 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 on the stock. CICC Research assumed coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating on the stock. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, Evercore ISI increased their target price 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. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $348.72.
Get Our Latest Research Report on GE Vernova
GE Vernova Stock Performance
GEV traded up $10.11 during midday trading on Monday, reaching $343.98. The company had a trading volume of 3,140,099 shares, compared to its average volume of 3,518,320. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The business has a 50-day moving average price of $352.15 and a two-hundred day moving average price of $319.15. The stock has a market cap of $94.91 billion and a PE ratio of 61.87.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.
GE Vernova Profile
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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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