Dorsey Wright & Associates Purchases 873 Shares of GE Vernova Inc. (NYSE:GEV)

Dorsey Wright & Associates grew its position in GE Vernova Inc. (NYSE:GEV) by 4.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,664 shares of the company’s stock after buying an additional 873 shares during the period. GE Vernova makes up about 1.7% of Dorsey Wright & Associates’ investment portfolio, making the stock its 11th largest holding. Dorsey Wright & Associates’ holdings in GE Vernova were worth $7,126,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Portland Global Advisors LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $232,000. Schroder Investment Management Group raised its position in GE Vernova by 5.7% in the 4th quarter. Schroder Investment Management Group now owns 1,465,804 shares of the company’s stock worth $482,147,000 after buying an additional 78,650 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in GE Vernova by 555.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock valued at $187,404,000 after acquiring an additional 482,787 shares during the period. L & S Advisors Inc boosted its holdings in shares of GE Vernova by 337.4% during the 4th quarter. L & S Advisors Inc now owns 20,945 shares of the company’s stock valued at $6,889,000 after acquiring an additional 16,157 shares during the last quarter. Finally, Strategy Asset Managers LLC grew its stake in shares of GE Vernova by 10.7% in the fourth quarter. Strategy Asset Managers LLC now owns 1,125 shares of the company’s stock worth $370,000 after acquiring an additional 109 shares during the period.

GE Vernova Price Performance

NYSE GEV opened at $302.71 on Friday. The stock has a market capitalization of $83.52 billion and a PE ratio of 54.44. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The business has a 50 day simple moving average of $345.68 and a two-hundred day simple moving average of $322.53.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

GEV has been the topic of several research reports. Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Citigroup raised their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova 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.