725 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by EntryPoint Capital LLC

EntryPoint Capital LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 725 shares of the company’s stock, valued at approximately $238,000.

Other large investors also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at $2,507,296,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova in the fourth quarter worth about $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GE Vernova by 34.1% during 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 acquiring an additional 460,834 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of GE Vernova during the 4th quarter valued at about $94,562,000.

GE Vernova Price Performance

GE Vernova stock opened at $302.71 on Friday. The firm has a market capitalization of $83.52 billion and a price-to-earnings ratio of 54.44. The company’s 50 day simple moving average is $345.68 and its 200 day simple moving average is $321.69. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Wolfe Research assumed coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Evercore ISI boosted their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Truist Financial raised their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $349.54.

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.