B. Metzler seel. Sohn & Co. AG Sells 24,336 Shares of GE Vernova Inc. (NYSE:GEV)

B. Metzler seel. Sohn & Co. AG cut its holdings in GE Vernova Inc. (NYSE:GEV) by 65.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,638 shares of the company’s stock after selling 24,336 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in GE Vernova were worth $4,157,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the 3rd quarter worth $2,507,296,000. Norges Bank bought a new stake in GE Vernova in the fourth quarter valued at about $1,109,720,000. Raymond James Financial Inc. acquired a new position in GE Vernova in the fourth quarter valued at about $219,187,000. Arrowstreet Capital Limited Partnership boosted its holdings in GE Vernova by 555.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock worth $187,404,000 after buying an additional 482,787 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of GE Vernova by 284.3% during 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 during the period.

GE Vernova Trading Up 1.0 %

Shares of GEV opened at $305.92 on Tuesday. The company’s fifty day simple moving average is $343.76 and its 200 day simple moving average is $323.97. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The company has a market cap of $84.40 billion and a price-to-earnings ratio of 55.02.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

Wall Street Analyst Weigh In

GEV has been the topic of several recent analyst reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Finally, CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $349.54.

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.