Vinva Investment Management Ltd Sells 3,718 Shares of GE Vernova Inc. (NYSE:GEV)

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

Other hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC grew its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Asset Planning Inc bought a new position in GE Vernova in the fourth quarter worth approximately $35,000. Finally, Riggs Asset Managment Co. Inc. grew its stake in GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a report on Wednesday, March 5th. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Seven investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Stock Performance

Shares of GEV opened at $335.38 on Thursday. The business’s 50-day moving average is $353.42 and its two-hundred day moving average is $316.38. The company has a market capitalization of $92.53 billion and a P/E ratio of 60.32. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

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

GE Vernova announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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.