GE Vernova Inc. (NYSE:GEV) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 9.2% during the fourth quarter, HoldingsChannel reports. The firm owned 144,343 shares of the company’s stock after purchasing an additional 12,187 shares during the quarter. Pictet Asset Management Holding SA’s holdings in GE Vernova were worth $47,479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Cedar Mountain Advisors LLC increased its holdings in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the fourth quarter worth $25,000. Fairway Wealth LLC raised its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the last quarter.

GE Vernova Trading Down 0.1 %

Shares of NYSE:GEV opened at $302.71 on Monday. The company has a 50 day moving average of $345.68 and a 200-day moving average of $323.33. The firm has a market cap of $83.52 billion and a P/E ratio of 54.44. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last issued 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). 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 the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. CICC Research assumed coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Jefferies Financial Group upped their price objective on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup increased their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Seven investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $349.54.

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.