GE Vernova Inc. (NYSE:GEV) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,010 shares of the company’s stock after selling 4,443 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in GE Vernova were worth $40,462,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the third quarter valued at $2,507,296,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after buying an additional 460,834 shares in the last quarter. Assenagon Asset Management S.A. grew its position in GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after buying an additional 456,879 shares during the period. Finally, Castle Hook Partners LP increased its holdings in GE Vernova by 39.3% in the third quarter. Castle Hook Partners LP now owns 1,050,806 shares of the company’s stock valued at $267,935,000 after buying an additional 296,464 shares in the last quarter.

GE Vernova Stock Down 5.6 %

Shares of GEV stock opened at $317.47 on Thursday. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The firm’s 50 day moving average price is $349.42 and its two-hundred day moving average price is $321.12. The stock has a market cap of $87.59 billion and a price-to-earnings ratio of 57.10.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized 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 leadership believes its shares are undervalued.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Robert W. Baird initiated coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

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.