Caisse Des Depots ET Consignations Buys New Shares in GE Vernova Inc. (NYSE:GEV)

Caisse Des Depots ET Consignations purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,336 shares of the company's stock, valued at approximately $768,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Blair William & Co. IL increased its holdings in GE Vernova by 86.6% during the 4th quarter. Blair William & Co. IL now owns 130,595 shares of the company's stock worth $42,957,000 after purchasing an additional 60,617 shares during the last quarter. Rockbridge Investment Management LCC acquired a new stake in shares of GE Vernova during the fourth quarter worth approximately $254,000. NEOS Investment Management LLC increased its stake in shares of GE Vernova by 49.1% in the fourth quarter. NEOS Investment Management LLC now owns 18,071 shares of the company's stock worth $5,944,000 after buying an additional 5,952 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in shares of GE Vernova by 12.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 18,167 shares of the company's stock worth $5,976,000 after buying an additional 2,059 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in GE Vernova by 108.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company's stock valued at $230,232,000 after acquiring an additional 364,717 shares in the last quarter.

GE Vernova Trading Up 1.0 %

Shares of NYSE:GEV opened at $305.92 on Tuesday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The firm has a market cap of $84.40 billion and a P/E ratio of 55.02. The company has a 50 day moving average of $343.76 and a 200-day moving average of $323.97.

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GE Vernova (NYSE:GEV - Get Free Report) last issued 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has initiated a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GEV. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. BMO Capital Markets cut their price objective on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 target price on the stock. William Blair reiterated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Seven research 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 stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus target price 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.