Artisan Partners Limited Partnership Buys 364,717 Shares of GE Vernova Inc. (NYSE:GEV)

Artisan Partners Limited Partnership boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 108.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 699,942 shares of the company's stock after acquiring an additional 364,717 shares during the period. Artisan Partners Limited Partnership owned 0.25% of GE Vernova worth $230,232,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company's stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new position in GE Vernova during the third quarter valued at $2,507,296,000. Geode Capital Management LLC grew its position 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 worth $1,420,763,000 after buying an additional 80,479 shares during the period. Franklin Resources Inc. increased its stake in shares of 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock valued at $462,073,000 after acquiring an additional 460,834 shares during the period.

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GE Vernova Price Performance

Shares of GEV stock traded down $2.84 during trading hours on Monday, reaching $300.09. 1,884,118 shares of the company traded hands, compared to its average volume of 4,062,076. The firm has a 50-day moving average price of $345.68 and a 200 day moving average price of $323.33. The company has a market cap of $82.80 billion and a P/E ratio of 53.97. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $10.56 billion during the quarter, compared to analysts' expectations 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 was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. William Blair restated an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They set a "buy" rating and a $400.00 price objective for the company. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Royal Bank of Canada reduced their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a research note on Thursday, January 23rd. Seven investment 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.