Lbp Am Sa Buys 13,680 Shares of GE Vernova Inc. (NYSE:GEV)

by · The Cerbat Gem

Lbp Am Sa lifted its stake in GE Vernova Inc. (NYSE:GEV – Free Report) by 56.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,091 shares of the company’s stock after purchasing an additional 13,680 shares during the quarter. Lbp Am Sa’s holdings in GE Vernova were worth $12,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GEV. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Raymond James Financial Inc. purchased a new position in GE Vernova in the 4th quarter worth approximately $219,187,000. FMR LLC raised its holdings in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in GE Vernova by 34.1% in the 3rd 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 acquiring an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after acquiring an additional 456,879 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Johnson Rice initiated coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. TD Cowen initiated coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, Truist Financial boosted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven investment 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 stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $349.02.

Get Our Latest Stock Analysis on GE Vernova

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $313.76 on Friday. The company has a market capitalization of $86.57 billion and a P/E ratio of 56.43. The company has a fifty day moving average of $355.75 and a 200 day moving average of $312.63. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV – Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

GE Vernova Company Profile

(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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