Blair William & Co. IL Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Blair William & Co. IL grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 86.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 130,595 shares of the company’s stock after purchasing an additional 60,617 shares during the quarter. Blair William & Co. IL’s holdings in GE Vernova were worth $42,957,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the 3rd quarter worth about $2,507,296,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova in the fourth quarter worth approximately $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in GE Vernova by 34.1% in 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 valued at $462,073,000 after purchasing an additional 460,834 shares during the period. Assenagon Asset Management S.A. increased its position 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 purchasing an additional 456,879 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in GE Vernova by 108.8% during the fourth 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 period.

Analyst Upgrades and Downgrades

GEV has been the subject of several research reports. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Barclays dropped 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. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a research note on Wednesday, March 5th. Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Finally, The Goldman Sachs Group lifted their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Seven 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Trading Down 4.6 %

Shares of GEV opened at $303.10 on Friday. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The firm has a market cap of $83.63 billion and a price-to-earnings ratio of 54.51. The stock has a 50 day moving average of $347.66 and a 200-day moving average of $320.99.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business 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. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is 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.