American Century Companies Inc. Sells 74,835 Shares of GE Vernova Inc. (NYSE:GEV)

American Century Companies Inc. lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 576,545 shares of the company’s stock after selling 74,835 shares during the quarter. American Century Companies Inc. owned about 0.21% of GE Vernova worth $189,643,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Mizuho Securities USA LLC boosted its stake in shares of GE Vernova by 46.6% during the 4th quarter. Mizuho Securities USA LLC now owns 26,126 shares of the company’s stock worth $8,594,000 after acquiring an additional 8,307 shares in the last quarter. Cyrus J. Lawrence LLC bought a new stake in GE Vernova during the 4th quarter valued at approximately $5,594,000. Virtu Financial LLC boosted its stake in GE Vernova by 55.9% during the 4th quarter. Virtu Financial LLC now owns 9,058 shares of the company’s stock valued at $2,979,000 after purchasing an additional 3,249 shares during the period. Quantbot Technologies LP boosted its stake in GE Vernova by 64.0% during the 4th quarter. Quantbot Technologies LP now owns 9,877 shares of the company’s stock valued at $3,249,000 after purchasing an additional 3,853 shares during the period. Finally, Sciencast Management LP bought a new stake in GE Vernova during the 4th quarter valued at approximately $394,000.

GE Vernova Stock Performance

NYSE:GEV opened at $334.21 on Friday. The stock’s 50-day simple moving average is $352.15 and its 200 day simple moving average is $318.32. The company has a market cap of $92.21 billion and a P/E ratio of 60.11. GE Vernova Inc. has a 52-week low of $119.00 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). The company had revenue of $10.56 billion during 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 quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEV. Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Citigroup increased their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Robert W. Baird started coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Finally, TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Seven equities research 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 stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

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.