Wulff Hansen & CO. Increases Position in GE Vernova Inc. (NYSE:GEV)

Wulff Hansen & CO. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,112 shares of the company’s stock after acquiring an additional 311 shares during the period. Wulff Hansen & CO.’s holdings in GE Vernova were worth $695,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GEV. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the 3rd quarter valued at about $2,507,296,000. Raymond James Financial Inc. purchased a new stake in GE Vernova during the 4th quarter valued at about $219,187,000. FMR LLC grew its stake in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 valued at $462,073,000 after acquiring an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in 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 in the last quarter.

GE Vernova Trading Down 4.0 %

Shares of NYSE:GEV opened at $318.64 on Wednesday. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The company’s 50 day moving average is $354.04 and its two-hundred day moving average is $316.24. The company has a market cap of $87.91 billion and a PE ratio of 57.31.

GE Vernova (NYSE:GEV) last announced 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Analyst Ratings Changes

GEV has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Robert W. Baird initiated coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price on the stock. BMO Capital Markets decreased their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

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.