GE Vernova Inc. (NYSE:GEV) Holdings Decreased by Trexquant Investment LP

Trexquant Investment LP cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 38.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 79,224 shares of the company’s stock after selling 49,457 shares during the period. Trexquant Investment LP’s holdings in GE Vernova were worth $26,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GEV. Register Financial Advisors LLC acquired a new position in shares of GE Vernova in the 4th quarter valued at about $206,000. GPS Wealth Strategies Group LLC boosted its stake in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares during the period. Yarbrough Capital LLC grew its holdings in shares of GE Vernova by 67.2% during the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after purchasing an additional 1,160 shares during the last quarter. Legacy Bridge LLC lifted its holdings in shares of GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its stake in GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after buying an additional 1,408 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on GEV. Barclays dropped their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group upped their price target on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Seven equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Performance

GE Vernova stock opened at $305.92 on Tuesday. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The firm has a market capitalization of $84.40 billion and a PE ratio of 55.02. The business’s 50-day simple moving average is $343.76 and its 200-day simple moving average is $323.97.

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). 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 company’s revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has initiated a stock repurchase 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board 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.