Rakuten Securities Inc. Has $96,000 Stake in GE Vernova Inc. (NYSE:GEV)

Rakuten Securities Inc. trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 59.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293 shares of the company’s stock after selling 430 shares during the period. Rakuten Securities Inc.’s holdings in GE Vernova were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Avantax Advisory Services Inc. raised its position in shares of GE Vernova by 2.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,433 shares of the company’s stock valued at $2,445,000 after buying an additional 153 shares in the last quarter. Essential Planning LLC. acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $2,156,000. Kayne Anderson Capital Advisors LP raised its position in shares of GE Vernova by 7.2% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 26,270 shares of the company’s stock valued at $8,641,000 after buying an additional 1,767 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of GE Vernova by 3.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,640 shares of the company’s stock valued at $1,197,000 after buying an additional 119 shares in the last quarter. Finally, Knuff & Co LLC raised its position in shares of GE Vernova by 8.5% in the fourth quarter. Knuff & Co LLC now owns 2,233 shares of the company’s stock valued at $735,000 after buying an additional 175 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GEV shares. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Morgan Stanley lifted their price objective on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Stock Up 5.1 %

Shares of GE Vernova stock opened at $298.72 on Thursday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a market cap of $82.42 billion and a price-to-earnings ratio of 53.73. The company’s fifty day moving average is $357.33 and its 200 day moving average is $311.79.

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

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

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.