GE Vernova Inc. (NYSE:GEV) Stake Reduced by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH cut its stake in GE Vernova Inc. (NYSE:GEV) by 28.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,229 shares of the company’s stock after selling 1,271 shares during the quarter. GE Vernova makes up approximately 2.2% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 9th largest position. Lingohr Asset Management GmbH’s holdings in GE Vernova were worth $1,066,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GEV. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the third quarter valued at approximately $2,507,296,000. Raymond James Financial Inc. acquired a new position in GE Vernova in the fourth quarter valued at approximately $219,187,000. FMR LLC lifted its holdings in 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 acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 acquiring an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in 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 acquiring an additional 456,879 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. Robert W. Baird initiated coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. BMO Capital Markets reduced their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada reduced their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $335.38 on Thursday. The business has a 50-day moving average of $353.42 and a 200 day moving average of $316.38. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The stock has a market capitalization of $92.53 billion and a price-to-earnings ratio of 60.32.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova 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.