American Century Companies Inc. Sells 74,835 Shares of GE Vernova Inc. (NYSE:GEV)

American Century Companies Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 576,545 shares of the company’s stock after selling 74,835 shares during the period. American Century Companies Inc.’s holdings in GE Vernova were worth $189,643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in GEV. Cedar Mountain Advisors LLC boosted its stake 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 buying an additional 39 shares during the period. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC raised its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Royal Bank of Canada lowered 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 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. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Trading Down 0.8 %

Shares of GEV opened at $334.21 on Friday. The stock has a market capitalization of $92.21 billion and a P/E ratio of 60.11. The firm’s fifty day simple moving average is $352.15 and its two-hundred day simple moving average is $318.32. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.