Lbp Am Sa Acquires 13,680 Shares of GE Vernova Inc. (NYSE:GEV)

Lbp Am Sa boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 56.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,091 shares of the company’s stock after buying an additional 13,680 shares during the period. Lbp Am Sa’s holdings in GE Vernova were worth $12,529,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its stake in GE Vernova by 9.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 96,376 shares of the company’s stock valued at $31,701,000 after buying an additional 7,971 shares during the period. HBK Sorce Advisory LLC raised its position in GE Vernova by 1.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 3,784 shares of the company’s stock valued at $1,245,000 after purchasing an additional 71 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in GE Vernova by 2.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,106 shares of the company’s stock valued at $1,022,000 after purchasing an additional 81 shares in the last quarter. Avantax Advisory Services Inc. raised its position in GE Vernova by 2.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,433 shares of the company’s stock valued at $2,445,000 after purchasing an additional 153 shares in the last quarter. Finally, Essential Planning LLC. purchased a new stake in GE Vernova during the fourth quarter valued at about $2,156,000.

GE Vernova Stock Performance

GE Vernova stock opened at $313.76 on Friday. The stock’s 50 day simple moving average is $355.75 and its two-hundred day simple moving average is $312.63. The stock has a market cap of $86.57 billion and a price-to-earnings ratio of 56.43. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm 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 firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target on the stock in a research report on Wednesday, March 5th. Finally, Citigroup raised their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $349.02.

About GE Vernova

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.