Catalyst Funds Management Pty Ltd Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Catalyst Funds Management Pty Ltd raised its stake in GE Vernova Inc. (NYSE:GEV) by 1,833.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,600 shares of the company’s stock after acquiring an additional 11,000 shares during the quarter. GE Vernova makes up 0.9% of Catalyst Funds Management Pty Ltd’s holdings, making the stock its 22nd biggest position. Catalyst Funds Management Pty Ltd’s holdings in GE Vernova were worth $3,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. FMR LLC lifted its stake in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp raised its stake in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC grew its stake in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, Franklin Resources Inc. increased its holdings in GE Vernova by 3.7% in the 3rd 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 during the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $313.76 on Friday. The firm’s 50-day simple moving average is $355.75 and its two-hundred day simple moving average is $312.63. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The stock has a market cap of $86.57 billion and a PE ratio of 56.43.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Wall Street Analyst Weigh In

GEV has been the topic of several recent research reports. TD Cowen started coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. Finally, Citigroup boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $349.02.

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.