WINTON GROUP Ltd trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 26.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,002 shares of the company's stock after selling 23,916 shares during the quarter. GE Vernova comprises 1.4% of WINTON GROUP Ltd's investment portfolio, making the stock its 2nd biggest holding. WINTON GROUP Ltd's holdings in GE Vernova were worth $21,710,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Mountaineer Partners Management LLC purchased a new position in GE Vernova during the third quarter worth about $2,507,296,000. Raymond James Financial Inc. purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of GE Vernova by 34.1% in 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 buying an additional 460,834 shares during the period. Assenagon Asset Management S.A. boosted 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 valued at $203,134,000 after buying an additional 456,879 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in GE Vernova by 108.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company's stock worth $230,232,000 after acquiring an additional 364,717 shares in the last quarter.
GE Vernova Price Performance
GE Vernova stock traded down $2.84 during midday trading on Monday, hitting $300.09. 1,884,118 shares of the stock were exchanged, compared to its average volume of 4,062,076. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The firm has a market cap of $82.80 billion and a P/E ratio of 53.97. The company has a 50 day moving average price of $345.68 and a two-hundred day moving average price of $323.33.
GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for 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%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova announced that its board has authorized a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.
Wall Street Analyst Weigh In
GEV has been the subject of several recent analyst reports. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Guggenheim raised GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price objective for the company in a research note on Wednesday, March 5th. Barclays decreased their target price 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. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Finally, Wolfe Research began 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. Seven 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $349.54.
View Our Latest Research Report on GE Vernova
GE Vernova Company 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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