RWA Wealth Partners LLC Sells 802 Shares of GE Vernova Inc. (NYSE:GEV)

RWA Wealth Partners LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 14.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,907 shares of the company’s stock after selling 802 shares during the quarter. RWA Wealth Partners LLC’s holdings in GE Vernova were worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings 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 valued at $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Norges Bank bought a new stake in shares of GE Vernova in the fourth quarter worth $1,109,720,000. Finally, Franklin Resources Inc. increased its position in GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after acquiring an additional 71,067 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GEV shares. Jefferies Financial Group boosted their price target on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Royal Bank of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. 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 target on the stock. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $349.54.

GE Vernova Stock Performance

Shares of GEV opened at $305.92 on Tuesday. The stock has a market capitalization of $84.40 billion and a PE ratio of 55.02. The company’s fifty day moving average is $343.76 and its 200 day moving average is $323.97. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

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 analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate 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% 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 declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are 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.