Quantbot Technologies LP raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 64.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,877 shares of the company's stock after purchasing an additional 3,853 shares during the quarter. Quantbot Technologies LP's holdings in GE Vernova were worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Raymond James Financial Inc. acquired a new position in GE Vernova in the fourth quarter worth $219,187,000. FMR LLC grew its holdings in shares of GE Vernova by 2.5% during the third 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 valued at $462,073,000 after buying an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of 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 buying an additional 456,879 shares during the last quarter.
GE Vernova Trading Down 2.5 %
Shares of NYSE:GEV traded down $8.52 during mid-day trading on Tuesday, hitting $335.05. 1,976,639 shares of the company traded hands, compared to its average volume of 3,518,216. The stock has a market cap of $92.44 billion and a P/E ratio of 60.26. The stock has a 50-day moving average price of $351.71 and a two-hundred day moving average price of $320.18. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last posted 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). The firm had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire 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.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GEV. BMO Capital Markets decreased their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price target for the company. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Wells Fargo & Company lifted their target price on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada lowered their price objective on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $348.72.
Get Our Latest Stock Analysis on GEV
About GE Vernova
(
Free Report)
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.
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