GE Vernova Inc. (NYSE:GEV) Shares Sold by Aviva PLC

Aviva PLC decreased its position in GE Vernova Inc. (NYSE:GEV) by 47.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,479 shares of the company’s stock after selling 148,891 shares during the quarter. Aviva PLC owned 0.06% of GE Vernova worth $54,431,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GEV. MRP Capital Investments LLC acquired a new position in GE Vernova during the 4th quarter worth about $25,000. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC lifted its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position 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 period. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of GE Vernova in the fourth quarter worth $30,000.

Analyst Ratings Changes

GEV has been the topic of several analyst reports. JPMorgan Chase & Co. increased 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. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Susquehanna initiated coverage on shares of GE Vernova in a report on Wednesday. They set a “positive” rating and a $370.00 price target for the company. Finally, BMO Capital Markets reduced their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $349.20.

GE Vernova Price Performance

Shares of NYSE GEV opened at $271.40 on Friday. The stock has a fifty day moving average price of $334.07 and a 200 day moving average price of $325.35. GE Vernova Inc. has a 1-year low of $125.86 and a 1-year high of $447.50. The company has a market cap of $74.19 billion and a PE ratio of 48.81.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate 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 initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management 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.