GE Vernova Inc. (NYSE:GEV) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 27.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,660 shares of the company’s stock after selling 3,718 shares during the period. Vinva Investment Management Ltd’s holdings in GE Vernova were worth $3,190,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. Fairway Wealth LLC grew its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Asset Planning Inc purchased a new position in GE Vernova in the 4th quarter valued at about $35,000. Finally, Riggs Asset Managment Co. Inc. lifted its stake in GE Vernova by 93.4% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after buying an additional 57 shares in the last quarter.

GE Vernova Stock Up 5.2 %

Shares of NYSE GEV opened at $335.38 on Thursday. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The business’s 50 day moving average is $353.42 and its two-hundred day moving average is $316.38. The firm has a market cap of $92.53 billion and a price-to-earnings ratio of 60.32.

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

GE Vernova announced that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GEV. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. 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 target on the stock. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Barclays decreased their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Citigroup raised their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $348.72.

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.