Maryland State Retirement & Pension System Sells 899 Shares of GE Vernova Inc. (NYSE:GEV)

Maryland State Retirement & Pension System lowered its stake in GE Vernova Inc. (NYSE:GEV) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,700 shares of the company’s stock after selling 899 shares during the quarter. Maryland State Retirement & Pension System’s holdings in GE Vernova were worth $4,835,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GEV. Generali Asset Management SPA SGR bought a new stake in GE Vernova in the fourth quarter valued at $2,297,000. Evoke Wealth LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $280,000. Horizon Investments LLC increased its position in GE Vernova by 53.1% in the 4th quarter. Horizon Investments LLC now owns 10,772 shares of the company’s stock valued at $3,543,000 after buying an additional 3,736 shares in the last quarter. Advisors Asset Management Inc. raised its stake in GE Vernova by 40.0% during the 4th quarter. Advisors Asset Management Inc. now owns 18,681 shares of the company’s stock worth $6,145,000 after buying an additional 5,333 shares during the period. Finally, PDS Planning Inc boosted its holdings in GE Vernova by 3.9% in the fourth quarter. PDS Planning Inc now owns 1,564 shares of the company’s stock worth $514,000 after acquiring an additional 58 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Barclays cut their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Trading Up 5.2 %

GE Vernova stock opened at $335.38 on Thursday. The business’s 50 day simple moving average is $353.42 and its 200 day simple moving average is $316.38. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The company has a market cap of $92.53 billion and a price-to-earnings ratio of 60.32.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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