GE Vernova Inc. (NYSE:GEV) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 79.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,795 shares of the company’s stock after selling 10,728 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in GE Vernova were worth $919,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. MRP Capital Investments LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC lifted its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC boosted its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its position in shares of 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 last quarter. Finally, Asset Planning Inc acquired a new stake in GE Vernova during the 4th quarter worth $35,000.

GE Vernova Price Performance

GEV opened at $303.10 on Friday. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The stock has a market cap of $83.63 billion and a P/E ratio of 54.51. The stock’s 50 day simple moving average is $347.66 and its 200 day simple moving average is $320.99.

GE Vernova (NYSE:GEV) last posted its 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 during 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% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Robert W. Baird began coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective for the company. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $349.54.

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.