GE Vernova Inc. (NYSE:GEV) Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 71.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,502 shares of the company’s stock after selling 55,633 shares during the quarter. GE Vernova comprises about 1.3% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 21st biggest position. Polymer Capital Management HK LTD’s holdings in GE Vernova were worth $7,402,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GEV. Armstrong Advisory Group Inc. increased its stake in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its stake in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the last quarter. Mutual Advisors LLC increased its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after acquiring an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its position in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after buying an additional 31 shares during the period.

GE Vernova Price Performance

Shares of NYSE GEV opened at $271.40 on Friday. The company has a market cap of $74.19 billion and a PE ratio of 48.81. The company has a 50-day simple moving average of $334.07 and a 200-day simple moving average of $325.35. GE Vernova Inc. has a 12 month low of $125.86 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Analyst Ratings Changes

A number of brokerages have recently commented on GEV. Jefferies Financial Group increased their price objective on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada lowered their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Wells Fargo & Company upped their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $349.20.

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.