IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Holdings in GE Vernova Inc. (NYSE:GEV)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its position in GE Vernova Inc. (NYSE:GEV) by 79.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,795 shares of the company’s stock after selling 10,728 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in GE Vernova were worth $919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GEV. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at $2,507,296,000. Raymond James Financial Inc. acquired a new position in GE Vernova in the fourth quarter valued at $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 during the period. Assenagon Asset Management S.A. boosted its stake in GE Vernova by 284.3% in the 4th 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 last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in GE Vernova by 108.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company’s stock valued at $230,232,000 after buying an additional 364,717 shares during the period.

GE Vernova Stock Down 4.6 %

GEV stock opened at $303.10 on Friday. The stock’s 50 day moving average is $347.66 and its two-hundred day moving average is $320.99. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The company has a market capitalization of $83.63 billion and a PE ratio of 54.51.

GE Vernova (NYSE:GEV) last issued its quarterly 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has approved a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. 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. BMO Capital Markets lowered their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $349.54.

GE Vernova Company 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.