Signaturefd LLC Buys 3,328 Shares of GE Vernova Inc. (NYSE:GEV)

Signaturefd LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 68.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,168 shares of the company’s stock after acquiring an additional 3,328 shares during the period. Signaturefd LLC’s holdings in GE Vernova were worth $2,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the third quarter valued at about $2,507,296,000. Raymond James Financial Inc. bought a new position in shares of GE Vernova during the 4th quarter valued at about $219,187,000. FMR LLC raised its holdings 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 buying an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position 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 buying an additional 456,879 shares during the last quarter.

GE Vernova Trading Up 6.0 %

Shares of GEV stock opened at $332.33 on Tuesday. The company’s fifty day moving average price is $354.99 and its 200-day moving average price is $315.42. The stock has a market cap of $91.69 billion and a PE ratio of 59.77. GE Vernova Inc. has a 12 month low of $119.00 and a 12 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). The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

GEV has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a research note on Tuesday, January 28th. The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Citigroup raised their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Finally, TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Seven 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

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.