Swiss National Bank Has $255.37 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Swiss National Bank lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.6% in the 4th quarter, HoldingsChannel reports. The firm owned 776,365 shares of the company’s stock after selling 37,200 shares during the period. Swiss National Bank’s holdings in GE Vernova were worth $255,370,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in GE Vernova by 2.7% in 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 acquiring an additional 81 shares during the period. Avantax Advisory Services Inc. grew its stake in GE Vernova by 2.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,433 shares of the company’s stock valued at $2,445,000 after acquiring an additional 153 shares during the period. Essential Planning LLC. acquired a new stake in GE Vernova in the fourth quarter valued at approximately $2,156,000. Kayne Anderson Capital Advisors LP grew its stake in GE Vernova by 7.2% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 26,270 shares of the company’s stock valued at $8,641,000 after acquiring an additional 1,767 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in GE Vernova by 3.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,640 shares of the company’s stock valued at $1,197,000 after acquiring an additional 119 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GEV shares. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Robert W. Baird assumed coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective for the company. Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Wednesday, March 5th. Finally, Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Price Performance

Shares of GEV opened at $298.72 on Thursday. The firm has a market cap of $82.42 billion and a PE ratio of 53.73. The stock’s fifty day moving average price is $357.33 and its two-hundred day moving average price is $311.79. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during 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 business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate 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 authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.