Excalibur Management Corp Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Excalibur Management Corp raised its position in GE Vernova Inc. (NYSE:GEV) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 914 shares of the company’s stock after purchasing an additional 44 shares during the quarter. Excalibur Management Corp’s holdings in GE Vernova were worth $301,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the 3rd quarter worth about $2,507,296,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova during the fourth quarter worth about $219,187,000. FMR LLC boosted its stake in shares of GE Vernova by 2.5% in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of GE Vernova by 34.1% in the third 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 purchasing an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased 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 worth $203,134,000 after buying an additional 456,879 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on GEV. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Finally, Truist Financial boosted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Stock Down 2.2 %

NYSE GEV opened at $335.93 on Wednesday. The stock has a market capitalization of $92.68 billion and a P/E ratio of 60.42. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The firm has a 50-day moving average price of $350.80 and a 200 day moving average price of $321.14.

GE Vernova (NYSE:GEV) last issued its 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research 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 approved a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.