GE Vernova Inc. (NYSE:GEV) is Lingohr Asset Management GmbH’s 9th Largest Position

Lingohr Asset Management GmbH lessened its stake in GE Vernova Inc. (NYSE:GEV) by 28.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,229 shares of the company’s stock after selling 1,271 shares during the quarter. GE Vernova comprises 2.2% of Lingohr Asset Management GmbH’s portfolio, making the stock its 9th largest holding. Lingohr Asset Management GmbH’s holdings in GE Vernova were worth $1,066,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Armstrong Advisory Group Inc. boosted its stake in shares of GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after buying an additional 27 shares during the period. Hengehold Capital Management LLC lifted its stake in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC lifted its stake in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets decreased their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Jefferies Financial Group boosted their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Price Performance

Shares of GEV stock opened at $335.38 on Thursday. The business’s fifty day moving average price is $353.42 and its 200 day moving average price is $316.38. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a market capitalization of $92.53 billion and a PE ratio of 60.32.

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 declared that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are typically 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.