5,000 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by Settian Capital LP

Settian Capital LP bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel reports. The firm bought 5,000 shares of the company’s stock, valued at approximately $1,645,000. GE Vernova accounts for about 1.2% of Settian Capital LP’s portfolio, making the stock its 22nd biggest position.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC boosted its stake in 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 purchasing an additional 584,208 shares during the last quarter. State Street Corp boosted its stake in GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC lifted its holdings in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of GE Vernova by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after buying an additional 71,067 shares during the period.

Analysts Set New Price Targets

Several research firms have recently weighed in on GEV. Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Barclays lowered their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Truist Financial increased their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group increased their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Seven 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $348.72.

GE Vernova Stock Up 5.2 %

Shares of GE Vernova stock opened at $335.38 on Thursday. The firm has a market cap of $92.53 billion and a price-to-earnings ratio of 60.32. The business has a 50-day moving average price of $353.42 and a 200-day moving average price of $316.38. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm 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%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication 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.