GE Vernova Inc. (NYSE:GEV) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. trimmed its position in GE Vernova Inc. (NYSE:GEV) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,968 shares of the company’s stock after selling 47 shares during the quarter. Wedbush Securities Inc.’s holdings in GE Vernova were worth $1,305,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. Barclays cut their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Citigroup raised their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $349.20.

GE Vernova Stock Performance

NYSE GEV opened at $271.40 on Monday. The firm’s fifty day moving average is $334.07 and its two-hundred day moving average is $325.98. GE Vernova Inc. has a one year low of $125.86 and a one year high of $447.50. The firm has a market cap of $74.19 billion and a PE ratio of 48.81.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is 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.