Cyrus J. Lawrence LLC Purchases New Holdings in GE Vernova Inc. (NYSE:GEV)

Cyrus J. Lawrence LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,009 shares of the company’s stock, valued at approximately $5,594,000.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Mountaineer Partners Management LLC bought a new position in GE Vernova during the third quarter valued at $2,507,296,000. Raymond James Financial Inc. bought a new position in shares of GE Vernova in the fourth quarter worth $219,187,000. FMR LLC boosted its holdings 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 worth $6,131,677,000 after acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 worth $462,073,000 after acquiring an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after acquiring an additional 456,879 shares during the period.

GE Vernova Trading Down 0.8 %

GEV opened at $334.21 on Friday. The company has a market cap of $92.21 billion and a P/E ratio of 60.11. The business’s 50-day moving average price is $352.15 and its 200-day moving average price is $317.44. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. 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 initiated a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have recently commented on GEV. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Barclays cut their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Wolfe Research initiated coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Company 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.