Alliancebernstein L.P. Reduces Holdings in GE Vernova Inc. (NYSE:GEV)

Alliancebernstein L.P. lowered its position in GE Vernova Inc. (NYSE:GEV) by 12.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,145,298 shares of the company’s stock after selling 158,217 shares during the period. Alliancebernstein L.P.’s holdings in GE Vernova were worth $376,723,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MRP Capital Investments LLC purchased a new stake in GE Vernova in the 4th quarter worth about $25,000. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC raised its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC lifted its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in GE Vernova during the 4th quarter valued at $35,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GEV shares. TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Jefferies Financial Group upped their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Citigroup increased their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $349.54.

GE Vernova Price Performance

GEV stock opened at $305.92 on Tuesday. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The company has a market capitalization of $84.40 billion and a P/E ratio of 55.02. The firm’s fifty day simple moving average is $343.76 and its 200-day simple moving average is $323.97.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 analysts’ expectations 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 forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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