Banco BTG Pactual S.A. Invests $348,000 in GE Vernova Inc. (NYSE:GEV)

Banco BTG Pactual S.A. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,027 shares of the company's stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in 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 acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Geode Capital Management LLC lifted its stake in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the last quarter. Franklin Resources Inc. boosted 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 buying an additional 71,067 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock worth $462,073,000 after buying an additional 460,834 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Guggenheim upgraded GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. Jefferies Financial Group upped their target price on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $349.54.

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GE Vernova Stock Up 1.0 %

NYSE:GEV opened at $305.92 on Tuesday. The firm has a market cap of $84.40 billion and a PE ratio of 55.02. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The company's 50-day moving average price is $343.76 and its two-hundred day moving average price is $323.97.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

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.