KLP Kapitalforvaltning AS Invests $41.18 Million in GE Vernova Inc. (NYSE:GEV)

KLP Kapitalforvaltning AS acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 125,110 shares of the company's stock, valued at approximately $41,179,000.

A number of other hedge funds also recently made changes to their positions in the stock. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth $2,507,296,000. Raymond James Financial Inc. purchased a new position in GE Vernova in the 4th quarter worth approximately $219,187,000. FMR LLC lifted its holdings in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 buying an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock valued at $203,134,000 after buying an additional 456,879 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GEV. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, February 13th. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. BMO Capital Markets decreased their price target on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Finally, Guggenheim upgraded shares of 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. Seven research 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 company's stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $348.72.

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GE Vernova Trading Down 1.6 %

Shares of NYSE GEV traded down $5.49 during trading hours on Tuesday, reaching $338.08. The stock had a trading volume of 1,455,019 shares, compared to its average volume of 3,518,216. The business's fifty day moving average price is $351.71 and its two-hundred day moving average price is $320.18. The firm has a market cap of $93.28 billion and a price-to-earnings ratio of 60.82. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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 firm 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 revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.