Xponance Inc. Sells 214 Shares of GE Vernova Inc. (NYSE:GEV)

Xponance Inc. trimmed its position in GE Vernova Inc. (NYSE:GEV) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 37,170 shares of the company’s stock after selling 214 shares during the quarter. Xponance Inc.’s holdings in GE Vernova were worth $12,226,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Generali Asset Management SPA SGR bought a new position in GE Vernova in the fourth quarter valued at approximately $2,297,000. Evoke Wealth LLC bought a new stake in shares of GE Vernova during the fourth quarter worth $280,000. Horizon Investments LLC grew its stake in shares of GE Vernova by 53.1% during the fourth quarter. Horizon Investments LLC now owns 10,772 shares of the company’s stock worth $3,543,000 after buying an additional 3,736 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of GE Vernova by 40.0% during the fourth quarter. Advisors Asset Management Inc. now owns 18,681 shares of the company’s stock worth $6,145,000 after buying an additional 5,333 shares during the last quarter. Finally, PDS Planning Inc grew its stake in shares of GE Vernova by 3.9% during the fourth quarter. PDS Planning Inc now owns 1,564 shares of the company’s stock worth $514,000 after buying an additional 58 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. BMO Capital Markets decreased their target price on shares of 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, The Goldman Sachs Group boosted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Seven investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Stock Down 4.0 %

GEV stock opened at $318.64 on Wednesday. The firm has a market cap of $87.91 billion and a price-to-earnings ratio of 57.31. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The company’s fifty day simple moving average is $354.04 and its 200 day simple moving average is $316.24.

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 the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management 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.