Nicolet Advisory Services LLC Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

Nicolet Advisory Services LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,023 shares of the company’s stock after acquiring an additional 38 shares during the period. Nicolet Advisory Services LLC’s holdings in GE Vernova were worth $336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GEV. State Street Corp lifted its holdings in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Geode Capital Management LLC increased its position in GE Vernova by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock valued at $1,898,814,000 after buying an additional 195,828 shares in the last quarter. Norges Bank purchased a new stake in GE Vernova in the fourth quarter valued at about $1,109,720,000. Franklin Resources Inc. boosted its holdings in GE Vernova by 3.7% in the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after acquiring an additional 71,067 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of GE Vernova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,679,396 shares of the company’s stock worth $552,404,000 after acquiring an additional 49,821 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $271.40 on Friday. The stock has a market capitalization of $74.19 billion and a PE ratio of 48.81. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The company has a fifty day moving average of $334.07 and a two-hundred day moving average of $324.74.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has approved a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently commented on GEV. BMO Capital Markets decreased their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Royal Bank of Canada cut their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $349.20.

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.