GE Vernova Inc. (NYSE:GEV) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,838 shares of the company’s stock after selling 314 shares during the quarter. Securian Asset Management Inc.’s holdings in GE Vernova were worth $4,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% in 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 in the last quarter. Fairway Wealth LLC grew its position in GE Vernova by 220.0% in 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 in the last quarter. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% in 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 in the last quarter. Covestor Ltd grew its position in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at about $31,000.

GE Vernova Price Performance

Shares of GEV stock opened at $283.52 on Wednesday. The business’s fifty day moving average price is $357.93 and its 200 day moving average price is $311.88. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm has a market capitalization of $78.22 billion and a PE ratio of 50.99.

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

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays dropped their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Johnson Rice assumed coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Finally, Bank of America boosted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $349.02.

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.