DSC Meridian Capital LP Purchases 580 Shares of GE Vernova Inc. (NYSE:GEV)

DSC Meridian Capital LP boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 33.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,328 shares of the company’s stock after buying an additional 580 shares during the quarter. GE Vernova makes up approximately 0.3% of DSC Meridian Capital LP’s portfolio, making the stock its 10th biggest position. DSC Meridian Capital LP’s holdings in GE Vernova were worth $766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova in the 3rd quarter worth about $2,507,296,000. Raymond James Financial Inc. acquired a new position in GE Vernova during the 4th quarter valued at about $219,187,000. FMR LLC boosted its stake in shares of 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 buying an additional 584,208 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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. boosted its stake in shares of 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.

Analyst Ratings Changes

Several research firms recently commented on GEV. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a research note on Wednesday, March 5th. Morgan Stanley raised their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Stock Performance

NYSE:GEV opened at $283.52 on Wednesday. The stock’s 50 day moving average price is $357.93 and its 200 day moving average price is $311.88. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The company has a market capitalization of $78.22 billion and a P/E ratio of 50.99.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, 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 approved a stock buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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.