Artisan Partners Limited Partnership Has $230.23 Million Holdings in GE Vernova Inc. (NYSE:GEV)

Artisan Partners Limited Partnership increased its holdings in GE Vernova Inc. (NYSE:GEV) by 108.8% 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 699,942 shares of the company’s stock after buying an additional 364,717 shares during the period. Artisan Partners Limited Partnership owned 0.25% of GE Vernova worth $230,232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. 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 about $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 purchasing an additional 460,834 shares during the period. Assenagon Asset Management S.A. grew its stake in GE Vernova by 284.3% during the fourth 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 in the last quarter. Finally, Castle Hook Partners LP increased its holdings in GE Vernova by 39.3% in the 3rd quarter. Castle Hook Partners LP now owns 1,050,806 shares of the company’s stock valued at $267,935,000 after buying an additional 296,464 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GEV. TD Cowen initiated coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seven research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Price Performance

Shares of GEV opened at $317.47 on Thursday. The business has a 50-day moving average of $349.42 and a 200-day moving average of $321.12. The company has a market capitalization of $87.59 billion and a price-to-earnings ratio of 57.10. 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board 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.