GE Vernova Inc. (NYSE:GEV) Stock Holdings Lessened by Atika Capital Management LLC

Atika Capital Management LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,450 shares of the company’s stock after selling 2,550 shares during the quarter. GE Vernova accounts for 1.4% of Atika Capital Management LLC’s portfolio, making the stock its 17th largest holding. Atika Capital Management LLC’s holdings in GE Vernova were worth $13,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of GEV. Norges Bank acquired a new position in shares of GE Vernova in the 4th quarter valued at $1,109,720,000. Massachusetts Financial Services Co. MA lifted its stake in GE Vernova by 1,638.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after buying an additional 1,238,690 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of GE Vernova in the fourth quarter worth about $219,187,000. Arrowstreet Capital Limited Partnership increased its position in shares of GE Vernova by 555.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock worth $187,404,000 after acquiring an additional 482,787 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $271.40 on Friday. The stock’s 50-day moving average is $334.07 and its 200-day moving average is $325.35. The company has a market cap of $74.19 billion and a P/E ratio of 48.81. GE Vernova Inc. has a 52-week low of $125.86 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last released its 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 during the quarter, compared to analyst estimates of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Citigroup lifted their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Barclays lowered their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $349.20.

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.