Thoroughbred Financial Services LLC Decreases Position in GE Vernova Inc. (NYSE:GEV)

Thoroughbred Financial Services LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,998 shares of the company’s stock after selling 50 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in GE Vernova were worth $657,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in GE Vernova in the 4th quarter valued at $1,109,720,000. Massachusetts Financial Services Co. MA increased its position in shares of GE Vernova by 1,638.5% during 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 acquiring an additional 1,238,690 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in GE Vernova in the fourth quarter valued at approximately $219,187,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of GE Vernova by 555.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock valued at $187,404,000 after buying an additional 482,787 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of 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 purchasing an additional 456,879 shares in the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $271.40 on Friday. GE Vernova Inc. has a fifty-two week low of $125.86 and a fifty-two week high of $447.50. The firm has a market capitalization of $74.19 billion and a price-to-earnings ratio of 48.81. The stock’s fifty day moving average is $334.07 and its two-hundred day moving average is $325.35.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business 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%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side 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 repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GEV shares. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Bank of America lifted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $349.20.

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.