Virtu Financial LLC increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 55.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,058 shares of the company's stock after acquiring an additional 3,249 shares during the period. Virtu Financial LLC's holdings in GE Vernova were worth $2,979,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the third quarter valued at $2,507,296,000. Raymond James Financial Inc. purchased a new position in GE Vernova in the 4th quarter worth about $219,187,000. FMR LLC lifted its stake in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GE Vernova by 34.1% during the 3rd 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 acquiring an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock worth $203,134,000 after acquiring an additional 456,879 shares during the period.
GE Vernova Stock Down 2.5 %
NYSE GEV traded down $8.52 during trading hours on Tuesday, reaching $335.05. The company's stock had a trading volume of 1,976,639 shares, compared to its average volume of 3,518,216. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The company has a market capitalization of $92.44 billion and a price-to-earnings ratio of 60.26. The firm's 50-day moving average price is $351.71 and its 200-day moving average price is $320.18.
GE Vernova (NYSE:GEV - Get Free Report) last issued 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). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
GEV has been the topic of a number of research analyst reports. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price objective on the stock. Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating for the company. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $348.72.
Get Our Latest Analysis on GE Vernova
About GE Vernova
(
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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