Sanctuary Wealth Management L.L.C. Sells 38 Shares of GE Vernova Inc. (NYSE:GEV)

Sanctuary Wealth Management L.L.C. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196 shares of the company’s stock after selling 38 shares during the quarter. Sanctuary Wealth Management L.L.C.’s holdings in GE Vernova were worth $64,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howard Capital Management Group LLC bought a new position in shares of GE Vernova in the third quarter valued at approximately $213,000. Dynamic Technology Lab Private Ltd bought a new position in GE Vernova in the 3rd quarter valued at $545,000. D.A. Davidson & CO. boosted its stake in GE Vernova by 1.5% in the third quarter. D.A. Davidson & CO. now owns 6,634 shares of the company’s stock worth $1,692,000 after purchasing an additional 95 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of GE Vernova during the third quarter worth $1,536,000. Finally, Townsquare Capital LLC increased its stake in shares of GE Vernova by 16.0% in the third quarter. Townsquare Capital LLC now owns 4,622 shares of the company’s stock valued at $1,179,000 after buying an additional 638 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GEV. Citigroup increased their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Truist Financial increased their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Down 0.1 %

Shares of GEV stock opened at $302.71 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 fifty day moving average of $345.68 and a 200-day moving average of $322.53. The company has a market capitalization of $83.52 billion and a price-to-earnings ratio of 54.44.

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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership 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.