Great Lakes Advisors LLC Has $19.34 Million Position in GE Vernova Inc. (NYSE:GEV)

Great Lakes Advisors LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 6.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 58,796 shares of the company’s stock after selling 3,764 shares during the quarter. Great Lakes Advisors LLC’s holdings in GE Vernova were worth $19,340,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. FMR LLC boosted its position in GE Vernova by 2.5% during the third 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 position in GE Vernova by 1.1% during the third 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 acquired a new position in GE Vernova during the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC boosted its position in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after purchasing an additional 71,067 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company increased their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup raised their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America raised their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Price Performance

GE Vernova stock opened at $298.72 on Thursday. The stock’s fifty day moving average price is $357.33 and its two-hundred day moving average price is $311.79. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The firm has a market cap of $82.42 billion and a PE ratio of 53.73.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS 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 for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

GE Vernova 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.