Hazlett Burt & Watson Inc. Acquires 63 Shares of GE Vernova Inc. (NYSE:GEV)

Hazlett Burt & Watson Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 522 shares of the company’s stock after acquiring an additional 63 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in GE Vernova were worth $172,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the third quarter valued at approximately $2,507,296,000. Geode Capital Management LLC increased its stake in GE Vernova by 1.5% in 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 in the last quarter. Norges Bank acquired a new stake in GE Vernova in the fourth quarter worth $1,109,720,000. Finally, Franklin Resources Inc. boosted its position in shares of GE Vernova by 3.7% during 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.

Analysts Set New Price Targets

A number of analysts recently commented on GEV shares. Wells Fargo & Company upped their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Finally, New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Seven investment 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Trading Up 1.0 %

NYSE:GEV opened at $305.92 on Tuesday. The stock has a 50 day simple moving average of $343.76 and a 200 day simple moving average of $323.97. The stock has a market cap of $84.40 billion and a P/E ratio of 55.02. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last posted 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 for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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.