JPMorgan Chase & Co. Sells 89,538 Shares of GE Vernova Inc. (NYSE:GEV)

JPMorgan Chase & Co. decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,553,749 shares of the company’s stock after selling 89,538 shares during the period. JPMorgan Chase & Co.’s holdings in GE Vernova were worth $511,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Artisan Partners Limited Partnership lifted its stake in shares of GE Vernova by 108.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company’s stock worth $230,232,000 after purchasing an additional 364,717 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in GE Vernova by 8.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 436,578 shares of the company’s stock worth $154,562,000 after purchasing an additional 35,164 shares in the last quarter. Worth Financial Advisory Group LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at about $235,000. Graney & King LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $242,000. Finally, Excalibur Management Corp grew its position in shares of GE Vernova by 5.1% in the 4th quarter. Excalibur Management Corp now owns 914 shares of the company’s stock worth $301,000 after buying an additional 44 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GEV shares. Bank of America raised their target price 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. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Jefferies Financial Group increased their price target on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird assumed coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Performance

GE Vernova stock opened at $302.71 on Friday. The stock has a market capitalization of $83.52 billion and a P/E ratio of 54.44. The company’s fifty day moving average price is $345.68 and its 200 day moving average price is $322.53. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50.

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). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase 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 generally a sign that the company’s leadership believes its shares are undervalued.

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.