Fmr LLC Has $8.18 Billion Holdings in GE Vernova Inc. (NYSE:GEV)

Fmr LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,861,833 shares of the company’s stock after buying an additional 814,155 shares during the quarter. GE Vernova accounts for about 0.5% of Fmr LLC’s portfolio, making the stock its 25th largest position. Fmr LLC owned approximately 9.02% of GE Vernova worth $8,177,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Register Financial Advisors LLC acquired a new stake in GE Vernova in the fourth quarter worth $206,000. GPS Wealth Strategies Group LLC grew its stake in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares during the period. Yarbrough Capital LLC increased its holdings in shares of GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after acquiring an additional 1,160 shares in the last quarter. Legacy Bridge LLC raised its position in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in shares of GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after purchasing an additional 1,408 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have commented on GEV. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their target price on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $349.20.

GE Vernova Stock Performance

NYSE:GEV opened at $271.40 on Friday. The stock has a 50-day simple moving average of $334.07 and a two-hundred day simple moving average of $325.35. GE Vernova Inc. has a 52-week low of $125.86 and a 52-week high of $447.50. The firm has a market capitalization of $74.19 billion and a PE ratio of 48.81.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 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 firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities 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 initiated a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs 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.