Knuff & Co LLC Raises Stake in GE Vernova Inc. (NYSE:GEV)

Knuff & Co LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,233 shares of the company’s stock after purchasing an additional 175 shares during the quarter. Knuff & Co LLC’s holdings in GE Vernova were worth $735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its position in shares of GE Vernova by 2.5% during 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 in the last quarter. State Street Corp boosted its stake in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC bought a new position in GE Vernova during the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC raised its position in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares during the period. Finally, Franklin Resources Inc. raised its position in GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after purchasing an additional 71,067 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GEV shares. Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. BMO Capital Markets reduced their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Robert W. Baird started coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective for the company. Truist Financial lifted their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. 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 stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Stock Performance

Shares of GEV opened at $283.52 on Wednesday. The firm has a market cap of $78.22 billion and a P/E ratio of 50.99. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business has a 50-day moving average of $357.93 and a 200 day moving average of $311.88.

GE Vernova (NYSE:GEV) last released its earnings results 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is 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.