Associated Banc Corp Trims Stock Position in GE Vernova Inc. (NYSE:GEV)

Associated Banc Corp cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,078 shares of the company’s stock after selling 1,523 shares during the quarter. Associated Banc Corp’s holdings in GE Vernova were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in shares of GE Vernova in the 4th quarter worth about $206,000. Atria Investments Inc raised its holdings in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in shares of GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the period. Yarbrough Capital LLC raised its holdings in shares of GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after purchasing an additional 1,160 shares during the period. Finally, Legacy Bridge LLC raised its holdings in shares of GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the period.

GE Vernova Price Performance

NYSE:GEV opened at $313.76 on Friday. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The firm has a market capitalization of $86.57 billion and a P/E ratio of 56.43. The business has a 50 day simple moving average of $355.75 and a 200 day simple moving average of $313.51.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. CICC Research assumed coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Robert W. Baird assumed coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price on the stock. Barclays dropped their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, BMO Capital Markets dropped their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $349.02.

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.