Pictet Asset Management Holding SA Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Pictet Asset Management Holding SA boosted its position in GE Vernova Inc. (NYSE:GEV) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,343 shares of the company’s stock after buying an additional 12,187 shares during the period. Pictet Asset Management Holding SA owned approximately 0.05% of GE Vernova worth $47,479,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC lifted its holdings in shares of GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares during the period. Norges Bank purchased a new stake in shares of GE Vernova in the fourth quarter valued at approximately $1,109,720,000. Finally, Franklin Resources Inc. grew its holdings in GE Vernova by 3.7% during 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 during the period.

GE Vernova Trading Down 0.1 %

Shares of GE Vernova stock opened at $302.71 on Monday. The stock has a market capitalization of $83.52 billion and a P/E ratio of 54.44. The business’s fifty day moving average price is $345.68 and its 200 day moving average price is $323.33. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last issued its 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 for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Analyst Ratings Changes

A number of equities research analysts have commented on GEV shares. JPMorgan Chase & Co. raised their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Barclays dropped their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Finally, Robert W. Baird assumed coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova 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.