Advisors Asset Management Inc. Acquires 5,333 Shares of GE Vernova Inc. (NYSE:GEV)

Advisors Asset Management Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 40.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,681 shares of the company’s stock after buying an additional 5,333 shares during the period. Advisors Asset Management Inc.’s holdings in GE Vernova were worth $6,145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter worth $2,507,296,000. Raymond James Financial Inc. bought a new stake in GE Vernova during the fourth quarter valued at about $219,187,000. FMR LLC grew its position in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $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 worth $462,073,000 after purchasing an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after purchasing an additional 456,879 shares during the last quarter.

GE Vernova Price Performance

GEV stock opened at $335.38 on Thursday. The business has a fifty day moving average price of $353.42 and a 200 day moving average price of $316.38. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The stock has a market capitalization of $92.53 billion and a price-to-earnings ratio of 60.32.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business 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%. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GEV shares. Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Wells Fargo & Company raised their price target 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. Evercore ISI upped their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $348.72.

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.