GE Vernova Inc. (NYSE:GEV) Stock Holdings Trimmed by Associated Banc Corp

Associated Banc Corp lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 58.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,078 shares of the company’s stock after selling 1,523 shares during the period. Associated Banc Corp’s holdings in GE Vernova were worth $355,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter valued at $2,507,296,000. Raymond James Financial Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth $219,187,000. FMR LLC raised its stake in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after buying an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after buying an additional 456,879 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays dropped their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $313.76 on Friday. The firm has a market cap of $86.57 billion and a price-to-earnings ratio of 56.43. The business’s 50-day simple moving average is $355.75 and its 200-day simple moving average is $313.51. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for 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%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are 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.