Kayne Anderson Capital Advisors LP Increases Stake in GE Vernova Inc. (NYSE:GEV)

Kayne Anderson Capital Advisors LP raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,270 shares of the company’s stock after acquiring an additional 1,767 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in GE Vernova were worth $8,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Howard Capital Management Group LLC purchased a new position in GE Vernova during the third quarter valued at $213,000. CWA Asset Management Group LLC bought a new position in shares of GE Vernova in the third quarter worth about $296,000. SpiderRock Advisors LLC grew its stake in shares of GE Vernova by 11.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 1,875 shares of the company’s stock valued at $478,000 after acquiring an additional 199 shares during the period. Assetmark Inc. increased its holdings in GE Vernova by 1,280.4% in the 3rd quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock worth $1,961,000 after acquiring an additional 7,132 shares in the last quarter. Finally, Atria Investments Inc raised its stake in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the period.

GE Vernova Trading Up 5.0 %

NYSE:GEV opened at $283.52 on Wednesday. The company has a market cap of $78.22 billion and a price-to-earnings ratio of 50.99. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The stock has a fifty day simple moving average of $357.93 and a 200-day simple moving average of $311.88.

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

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

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. BMO Capital Markets dropped their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Finally, Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Seven 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

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.