2,336 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,336 shares of the company’s stock, valued at approximately $768,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC raised its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the 4th quarter valued at $25,000. Fairway Wealth LLC lifted its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Finally, Prestige Wealth Management Group LLC increased its holdings in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on GEV shares. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Barclays reduced their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada dropped their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Robert W. Baird began coverage on GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. 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 stock presently has an average rating of “Moderate Buy” and an average target price of $349.54.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $303.10 on Friday. 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 price is $347.66 and its 200-day moving average price is $320.99. The stock has a market capitalization of $83.63 billion and a price-to-earnings ratio of 54.51.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.