GE Vernova Inc. (NYSE:GEV) Stake Lifted by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its stake in GE Vernova Inc. (NYSE:GEV) by 12.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,167 shares of the company’s stock after buying an additional 2,059 shares during the quarter. UniSuper Management Pty Ltd’s holdings in GE Vernova were worth $5,976,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. lifted its position in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC raised its holdings in shares of GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares during the last quarter. Mutual Advisors LLC grew its holdings in GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its position in GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after acquiring an additional 31 shares during the period.

GE Vernova Trading Down 4.6 %

NYSE:GEV opened at $303.10 on Friday. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a market capitalization of $83.63 billion and a price-to-earnings ratio of 54.51. The business’s fifty day moving average price is $347.66 and its 200 day moving average price is $320.99.

GE Vernova (NYSE:GEV) last posted 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 company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GEV shares. Jefferies Financial Group boosted their price target on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada decreased their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Finally, Bank of America raised their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Seven 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $349.54.

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.