6,919 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Essential Planning LLC.

Essential Planning LLC. bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,919 shares of the company’s stock, valued at approximately $2,156,000.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC grew its holdings 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 acquiring an additional 584,208 shares during the last quarter. State Street Corp grew its holdings in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter worth $2,507,296,000. Geode Capital Management LLC grew its holdings in shares of GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after acquiring an additional 71,067 shares during the last quarter.

GE Vernova Stock Up 5.1 %

Shares of NYSE:GEV opened at $298.72 on Thursday. The business has a 50 day moving average price of $357.33 and a 200 day moving average price of $311.79. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a market cap of $82.42 billion and a price-to-earnings ratio of 53.73.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business 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. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan 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 plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted 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. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Citigroup lifted their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Finally, Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Seven research 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. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

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.