Horizon Investments LLC Purchases 3,736 Shares of GE Vernova Inc. (NYSE:GEV)

Horizon Investments LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 53.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,772 shares of the company’s stock after acquiring an additional 3,736 shares during the period. Horizon Investments LLC’s holdings in GE Vernova were worth $3,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC bought a new position in GE Vernova during the third quarter valued at about $2,507,296,000. Raymond James Financial Inc. bought a new position in GE Vernova during the fourth quarter valued at about $219,187,000. FMR LLC increased its stake in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in GE Vernova by 34.1% during 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 valued at $462,073,000 after purchasing an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after purchasing an additional 456,879 shares in the last quarter.

GE Vernova Trading Down 4.0 %

Shares of GEV opened at $318.64 on Wednesday. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The stock has a market cap of $87.91 billion and a P/E ratio of 57.31. The stock’s 50-day moving average price is $354.04 and its two-hundred day moving average price is $316.24.

GE Vernova (NYSE:GEV) last issued its 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 return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GEV. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. Robert W. Baird began coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.