GE Vernova Inc. (NYSE:GEV) Stock Position Decreased by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,466,657 shares of the company’s stock after selling 215,527 shares during the period. Legal & General Group Plc owned about 0.53% of GE Vernova worth $482,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC boosted its position in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new stake in GE Vernova in the 4th quarter valued at approximately $30,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on GEV shares. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets dropped their price objective on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, CICC Research assumed coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $349.20.

GE Vernova Trading Up 4.9 %

Shares of GEV opened at $284.92 on Tuesday. The company has a market capitalization of $77.88 billion and a PE ratio of 51.24. The stock’s 50-day moving average price is $333.17 and its two-hundred day moving average price is $326.26. GE Vernova Inc. has a 12 month low of $125.86 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About GE Vernova

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.