GE Vernova Inc. (NYSE:GEV) Position Lifted by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in GE Vernova Inc. (NYSE:GEV) by 45.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,345,154 shares of the company’s stock after purchasing an additional 422,794 shares during the period. Wellington Management Group LLP’s holdings in GE Vernova were worth $442,462,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GEV. Howard Capital Management Group LLC acquired a new stake in GE Vernova during the third quarter valued at approximately $213,000. Townsquare Capital LLC raised its position in shares of GE Vernova by 16.0% during the 3rd quarter. Townsquare Capital LLC now owns 4,622 shares of the company’s stock valued at $1,179,000 after acquiring an additional 638 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in GE Vernova by 30.5% during the third quarter. CreativeOne Wealth LLC now owns 2,161 shares of the company’s stock worth $551,000 after purchasing an additional 505 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in GE Vernova by 15.2% in the third quarter. Public Sector Pension Investment Board now owns 12,096 shares of the company’s stock worth $3,084,000 after purchasing an additional 1,600 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in GE Vernova by 10.2% during the third quarter. Hantz Financial Services Inc. now owns 857 shares of the company’s stock valued at $219,000 after purchasing an additional 79 shares during the last quarter.

GE Vernova Stock Up 1.0 %

GEV opened at $305.92 on Tuesday. The business has a fifty day simple moving average of $343.76 and a 200-day simple moving average of $323.97. The firm has a market cap of $84.40 billion and a PE ratio of 55.02. 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 issued its quarterly earnings results 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). 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 during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on GEV shares. Evercore ISI lifted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Robert W. Baird started coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. JPMorgan Chase & Co. increased their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $349.54.

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.