WINTON GROUP Ltd Trims Position in GE Vernova Inc. (NYSE:GEV)

WINTON GROUP Ltd reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 26.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 66,002 shares of the company’s stock after selling 23,916 shares during the quarter. GE Vernova makes up about 1.4% of WINTON GROUP Ltd’s portfolio, making the stock its 2nd largest holding. WINTON GROUP Ltd’s holdings in GE Vernova were worth $21,710,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. State Street Corp raised its position in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the 3rd quarter valued at approximately $2,507,296,000. Geode Capital Management LLC raised its holdings in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after purchasing an additional 80,479 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after purchasing an additional 71,067 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 purchasing an additional 460,834 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. Wells Fargo & Company boosted their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Price Performance

GEV opened at $317.47 on Thursday. The firm’s fifty day moving average price is $349.42 and its two-hundred day moving average price is $321.12. The company 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 released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations 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 was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company’s management believes its stock is 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.