Sciencast Management LP Acquires New Holdings in GE Vernova Inc. (NYSE:GEV)

Sciencast Management LP bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,198 shares of the company's stock, valued at approximately $394,000.

Several other large investors have also added to or reduced their stakes in GEV. FMR LLC lifted its stake in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock valued at $6,131,677,000 after buying an additional 584,208 shares in the last quarter. State Street Corp lifted its position in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock valued at $2,660,695,000 after acquiring an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova in the third quarter valued at about $2,507,296,000. Geode Capital Management LLC boosted its stake in shares of GE Vernova by 1.5% in the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company's stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company's stock worth $533,257,000 after purchasing an additional 71,067 shares in the last quarter.

GE Vernova Trading Down 2.5 %

Shares of NYSE GEV traded down $8.52 during trading hours on Tuesday, reaching $335.05. The stock had a trading volume of 1,976,639 shares, compared to its average volume of 3,518,216. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The firm has a market cap of $92.44 billion and a price-to-earnings ratio of 60.26. The business's fifty day moving average price is $351.71 and its two-hundred day moving average price is $320.18.

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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 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on GEV. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an "outperform" rating for the company. Wells Fargo & Company upped their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. 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 research note on Tuesday, March 18th. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price objective for the company. Finally, Guggenheim upgraded 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.72.

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.