Alliancebernstein L.P. Sells 158,217 Shares of GE Vernova Inc. (NYSE:GEV)

Alliancebernstein L.P. lessened its position in GE Vernova Inc. (NYSE:GEV) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,145,298 shares of the company’s stock after selling 158,217 shares during the period. Alliancebernstein L.P. owned about 0.42% of GE Vernova worth $376,723,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GEV. Howard Capital Management Group LLC bought a new position in GE Vernova in the 3rd quarter valued at approximately $213,000. Townsquare Capital LLC lifted its stake in GE Vernova by 16.0% during the 3rd quarter. Townsquare Capital LLC now owns 4,622 shares of the company’s stock valued at $1,179,000 after acquiring an additional 638 shares during the period. CreativeOne Wealth LLC boosted its holdings in GE Vernova by 30.5% in the third quarter. CreativeOne Wealth LLC now owns 2,161 shares of the company’s stock worth $551,000 after purchasing an additional 505 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of GE Vernova by 15.2% in the third quarter. Public Sector Pension Investment Board now owns 12,096 shares of the company’s stock worth $3,084,000 after acquiring an additional 1,600 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in GE Vernova by 10.2% in the third quarter. Hantz Financial Services Inc. now owns 857 shares of the company’s stock worth $219,000 after purchasing an additional 79 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $305.92 on Tuesday. The stock has a market capitalization of $84.40 billion and a price-to-earnings ratio of 55.02. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. 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 released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GEV shares. Citigroup upped their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Jefferies Financial Group upped their target price on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Robert W. Baird initiated coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Royal Bank of Canada lowered their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Seven 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 company’s stock. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $349.54.

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.