Duff & Phelps Investment Management Co. Trims Stock Position in GE Vernova Inc. (NYSE:GEV)

Duff & Phelps Investment Management Co. trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 17.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,252 shares of the company’s stock after selling 269 shares during the period. Duff & Phelps Investment Management Co.’s holdings in GE Vernova were worth $412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. increased its position in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC increased its position in shares of GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC lifted its holdings in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after acquiring an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its position in shares of GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GEV shares. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Finally, BMO Capital Markets cut their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Price Performance

NYSE GEV opened at $302.71 on Friday. The company has a fifty day moving average of $345.68 and a two-hundred day moving average of $321.69. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The company has a market capitalization of $83.52 billion and a PE ratio of 54.44.

GE Vernova (NYSE:GEV) 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 firm had revenue of $10.56 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are 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.