GE Vernova Inc. (NYSE:GEV) Stock Position Increased by Cibc World Markets Corp

Cibc World Markets Corp grew its position in GE Vernova Inc. (NYSE:GEV) by 425.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 195,650 shares of the company’s stock after purchasing an additional 158,389 shares during the period. Cibc World Markets Corp owned approximately 0.07% of GE Vernova worth $64,355,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its holdings in GE Vernova by 93.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 560 shares of the company’s stock worth $184,000 after buying an additional 271 shares in the last quarter. GWN Securities Inc. acquired a new position in GE Vernova during the 4th quarter worth $442,000. Glenview Trust co grew its stake in shares of GE Vernova by 11.4% in the fourth quarter. Glenview Trust co now owns 3,131 shares of the company’s stock worth $1,030,000 after purchasing an additional 321 shares in the last quarter. Patten & Patten Inc. TN increased its holdings in shares of GE Vernova by 5.8% during the fourth quarter. Patten & Patten Inc. TN now owns 3,862 shares of the company’s stock valued at $1,270,000 after purchasing an additional 211 shares during the period. Finally, Harbour Investments Inc. raised its stake in shares of GE Vernova by 8.8% during the fourth quarter. Harbour Investments Inc. now owns 2,508 shares of the company’s stock valued at $825,000 after purchasing an additional 202 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research began coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Finally, Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Seven equities 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 stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Trading Up 4.5 %

GEV stock opened at $313.76 on Monday. The firm has a market cap of $86.57 billion and a PE ratio of 56.43. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The company has a fifty day simple moving average of $355.75 and a 200 day simple moving average of $314.43.

GE Vernova (NYSE:GEV) last announced 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 analyst estimates of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors 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.