Xponance Inc. lessened its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,170 shares of the company’s stock after selling 214 shares during the period. Xponance Inc.’s holdings in GE Vernova were worth $12,226,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GEV. Howard Capital Management Group LLC bought a new position in GE Vernova during the 3rd quarter worth about $213,000. Oppenheimer Asset Management Inc. bought a new position in shares of GE Vernova in the 3rd quarter valued at about $758,000. Empowered Funds LLC grew its holdings in shares of GE Vernova by 6.0% in the 3rd quarter. Empowered Funds LLC now owns 4,352 shares of the company’s stock valued at $1,110,000 after acquiring an additional 245 shares in the last quarter. Claro Advisors LLC grew its holdings in shares of GE Vernova by 22.8% in the 3rd quarter. Claro Advisors LLC now owns 1,465 shares of the company’s stock valued at $374,000 after acquiring an additional 272 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of GE Vernova by 24.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock valued at $4,311,000 after acquiring an additional 3,274 shares in the last quarter.
GE Vernova Trading Down 4.0 %
NYSE GEV opened at $318.64 on Wednesday. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The company has a 50 day moving average of $354.04 and a 200-day moving average of $316.24. The company has a market cap of $87.91 billion and a price-to-earnings ratio of 57.31.
GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Citigroup raised their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Barclays decreased their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, TD Cowen started coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $348.72.
View Our Latest Research Report on GEV
GE Vernova Company Profile
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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