Blair William & Co. IL Increases Stock Position in GE Vernova Inc. (NYSE:GEV)

Blair William & Co. IL raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 86.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,595 shares of the company's stock after purchasing an additional 60,617 shares during the quarter. Blair William & Co. IL's holdings in GE Vernova were worth $42,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new stake in GE Vernova during the fourth quarter worth about $25,000. Fairway Wealth LLC boosted its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares during the last quarter.

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Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Jefferies Financial Group lifted their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Guggenheim upgraded shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target for the company in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Finally, Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. 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. Based on data from MarketBeat.com, the stock has an average 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 company has a 50 day simple moving average of $343.76 and a two-hundred day simple moving average of $323.97. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The company has a market capitalization of $84.40 billion and a price-to-earnings ratio of 55.02.

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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

About GE Vernova

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.