Elo Mutual Pension Insurance Co Reduces Stock Position in GE Vernova Inc. (NYSE:GEV)

Elo Mutual Pension Insurance Co decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,078 shares of the company’s stock after selling 972 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in GE Vernova were worth $8,249,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. Royal Bank of Canada cut their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. TD Cowen began coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Price Performance

NYSE GEV opened at $317.47 on Thursday. 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 $87.59 billion and a PE ratio of 57.10. The company has a fifty day moving average of $349.42 and a 200 day moving average of $321.12.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company 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. 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 buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management 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.