GE Vernova Inc. (NYSE:GEV) Stock Position Decreased by LPL Financial LLC

LPL Financial LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 15.7% during the fourth quarter, Holdings Channel reports. The firm owned 201,021 shares of the company’s stock after selling 37,365 shares during the quarter. LPL Financial LLC’s holdings in GE Vernova were worth $66,122,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Howard Capital Management Group LLC purchased a new stake in GE Vernova during the third quarter valued at about $213,000. Centaurus Financial Inc. raised its holdings in shares of GE Vernova by 12.0% during the third quarter. Centaurus Financial Inc. now owns 823 shares of the company’s stock valued at $210,000 after acquiring an additional 88 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of GE Vernova during the third quarter valued at approximately $545,000. Independent Advisor Alliance lifted its position in shares of GE Vernova by 14.0% in the 3rd quarter. Independent Advisor Alliance now owns 5,075 shares of the company’s stock valued at $1,294,000 after acquiring an additional 624 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in GE Vernova in the 3rd quarter worth approximately $403,000.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. BMO Capital Markets cut 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. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target on the stock in a research report on Wednesday, March 5th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company increased their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Trading Down 5.6 %

GEV opened at $317.47 on Thursday. The business has a 50 day moving average of $349.42 and a 200-day moving average of $321.12. The stock has a market capitalization of $87.59 billion and a price-to-earnings ratio of 57.10. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 return on equity of 6.70% and a net margin of 4.44%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

GE Vernova 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.