GE Vernova Inc. (NYSE:GEV) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 82.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,782 shares of the company’s stock after selling 44,747 shares during the quarter. Intech Investment Management LLC’s holdings in GE Vernova were worth $3,218,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Armstrong Advisory Group Inc. grew its position in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC grew its position in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC grew its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co grew its position in shares of GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after purchasing an additional 31 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on GEV. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Barclays reduced their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. BMO Capital Markets reduced their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating on the stock. Finally, Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a research note on Wednesday, March 5th. Seven equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

GE Vernova Trading Up 5.2 %

GEV opened at $335.38 on Thursday. The company has a fifty day simple moving average of $353.42 and a 200 day simple moving average of $316.38. The firm has a market cap of $92.53 billion and a price-to-earnings ratio of 60.32. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month 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 analysts’ consensus estimates of $2.30 by ($0.57). The firm 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%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has authorized a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management 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.