UniSuper Management Pty Ltd Purchases 2,059 Shares of GE Vernova Inc. (NYSE:GEV)

UniSuper Management Pty Ltd increased its position in GE Vernova Inc. (NYSE:GEV) by 12.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,167 shares of the company’s stock after acquiring an additional 2,059 shares during the period. UniSuper Management Pty Ltd’s holdings in GE Vernova were worth $5,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Artisan Partners Limited Partnership increased its stake in shares of GE Vernova by 108.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company’s stock worth $230,232,000 after purchasing an additional 364,717 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in GE Vernova by 8.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 436,578 shares of the company’s stock worth $154,562,000 after buying an additional 35,164 shares during the last quarter. Worth Financial Advisory Group LLC bought a new position in GE Vernova during the fourth quarter valued at about $235,000. Graney & King LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth about $242,000. Finally, Excalibur Management Corp boosted its stake in shares of GE Vernova by 5.1% during the 4th quarter. Excalibur Management Corp now owns 914 shares of the company’s stock worth $301,000 after acquiring an additional 44 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GEV shares. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Evercore ISI boosted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Robert W. Baird began coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price on the stock. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a report on Wednesday, March 5th. Finally, CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Price Performance

Shares of GEV stock opened at $303.10 on Friday. The stock’s fifty day simple moving average is $347.66 and its 200 day simple moving average is $320.99. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The firm has a market cap of $83.63 billion and a price-to-earnings ratio of 54.51.

GE Vernova (NYSE:GEV) last issued its 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). The firm 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% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has initiated a share repurchase 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 usually a sign that the company’s management believes its stock is undervalued.

About GE Vernova

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.