Wellington Shields & Co. LLC Sells 95 Shares of GE Vernova Inc. (NYSE:GEV)

Wellington Shields & Co. LLC decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,712 shares of the company’s stock after selling 95 shares during the period. Wellington Shields & Co. LLC’s holdings in GE Vernova were worth $563,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GEV. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the third quarter worth about $2,507,296,000. Raymond James Financial Inc. bought a new stake in GE Vernova during the fourth quarter worth about $219,187,000. FMR LLC boosted its stake in GE Vernova by 2.5% during the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GE Vernova by 34.1% during the third 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 in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in GE Vernova by 284.3% during the fourth 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 in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on GEV shares. Johnson Rice started coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Robert W. Baird started coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Price Performance

GEV opened at $313.76 on Friday. The firm has a market cap of $86.57 billion and a P/E ratio of 56.43. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The company has a 50 day simple moving average of $355.75 and a two-hundred day simple moving average of $312.63.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors 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.