Vanguard Group Inc. Has $7.88 Billion Holdings in GE Vernova Inc. (NYSE:GEV)

Vanguard Group Inc. cut its position in GE Vernova Inc. (NYSE:GEV) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,959,783 shares of the company’s stock after selling 3,540,221 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of GE Vernova worth $7,881,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MRP Capital Investments LLC acquired a new position in GE Vernova in the 4th quarter valued at $25,000. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC grew its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in GE Vernova in the 4th quarter valued at $35,000.

GE Vernova Trading Down 0.8 %

GEV opened at $334.21 on Monday. The stock has a market capitalization of $92.21 billion and a PE ratio of 60.11. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a 50-day moving average price of $352.15 and a two-hundred day moving average price of $319.15.

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). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. On average, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GEV shares. Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. 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 price target for the company. BMO Capital Markets reduced their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Seven 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 MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $348.72.

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.