EntryPoint Capital LLC Acquires New Holdings in GE Vernova Inc. (NYSE:GEV)

EntryPoint Capital LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 725 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC boosted its position in GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after acquiring an additional 80,479 shares during the period. Franklin Resources Inc. grew its stake in shares of GE Vernova by 3.7% in the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after purchasing an additional 71,067 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Vernova by 34.1% during 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 during the period.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GEV shares. Wolfe Research began coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Evercore ISI upped their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Seven investment 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’s stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.54.

GE Vernova Price Performance

NYSE:GEV opened at $302.71 on Friday. The stock has a market cap of $83.52 billion and a PE ratio of 54.44. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The stock’s 50-day moving average is $345.68 and its two-hundred day moving average is $321.69.

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). The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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.