Massachusetts Financial Services Co. MA Increases Position in GE Vernova Inc. (NYSE:GEV)

Massachusetts Financial Services Co. MA grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 1,638.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,314,288 shares of the company's stock after acquiring an additional 1,238,690 shares during the period. Massachusetts Financial Services Co. MA owned about 0.48% of GE Vernova worth $432,309,000 as of its most recent filing with the Securities & Exchange Commission.

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

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GE Vernova Stock Performance

GEV traded down $26.26 during trading on Friday, hitting $271.40. 8,093,637 shares of the stock were exchanged, compared to its average volume of 3,545,680. The firm has a 50 day simple moving average of $337.02 and a 200 day simple moving average of $324.45. The firm has a market cap of $74.19 billion and a price-to-earnings ratio of 48.81. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. The business's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate 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 authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a "buy" rating and a $400.00 price target for the company. Royal Bank of Canada cut their target price on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Susquehanna started coverage on shares of GE Vernova in a research report on Wednesday. They set a "positive" rating and a $370.00 price objective for the company. Finally, Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $349.20.

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.