GE Vernova Inc. (NYSE:GEV) Holdings Reduced by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in GE Vernova Inc. (NYSE:GEV) by 12.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,959,783 shares of the company’s stock after selling 3,540,221 shares during the period. Vanguard Group Inc. owned approximately 8.69% of GE Vernova worth $7,881,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter worth about $2,507,296,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova in the 4th quarter worth approximately $219,187,000. FMR LLC lifted its stake in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $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 stake 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 worth $462,073,000 after acquiring an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of GE Vernova by 284.3% in the 4th 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.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Truist Financial upped their price target on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Stock Performance

GE Vernova stock opened at $334.21 on Monday. The firm has a market cap of $92.21 billion and a PE ratio of 60.11. The firm’s 50 day moving average price is $352.15 and its two-hundred day moving average price is $319.15. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. Equities 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 approved a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.