GE Vernova Inc. (NYSE:GEV) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 32.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,750 shares of the company's stock after acquiring an additional 23,189 shares during the quarter. DnB Asset Management AS's holdings in GE Vernova were worth $31,166,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Mountaineer Partners Management LLC bought a new position in GE Vernova in the third quarter worth about $2,507,296,000. Norges Bank bought a new position in shares of GE Vernova during the 4th quarter worth approximately $1,109,720,000. Raymond James Financial Inc. purchased a new stake in GE Vernova during the fourth quarter valued at approximately $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GE Vernova by 34.1% during 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 valued at $462,073,000 after acquiring an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock valued at $203,134,000 after acquiring an additional 456,879 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Evercore ISI increased their price objective on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price target for the company. Barclays cut their price objective on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $349.54.

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GE Vernova Trading Up 3.2 %

GEV traded up $9.76 during trading on Tuesday, hitting $315.04. The company's stock had a trading volume of 1,536,521 shares, compared to its average volume of 4,066,568. The firm has a market capitalization of $86.92 billion and a price-to-earnings ratio of 56.64. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The business's fifty day simple moving average is $343.76 and its 200 day simple moving average is $323.97.

GE Vernova (NYSE:GEV - Get Free Report) last released 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). The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova's quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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