Groupama Asset Managment Acquires New Holdings in GE Vernova Inc. (NYSE:GEV)

Groupama Asset Managment bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 89,729 shares of the company’s stock, valued at approximately $29,634,000.

Several other large investors have also recently bought and sold shares of GEV. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC increased its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC raised its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of GE Vernova in the fourth quarter valued at $35,000.

Analysts Set New Price Targets

GEV has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Robert W. Baird initiated coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. New Street Research set a $380.00 price target on shares of GE Vernova in a research report on Wednesday, March 5th. Finally, CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $305.92 on Tuesday. The stock has a market cap of $84.40 billion and a price-to-earnings ratio of 55.02. The business has a 50 day simple moving average of $343.76 and a 200 day simple moving average of $323.97. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized 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 buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.