Great Lakes Advisors LLC Has $19.34 Million Stake in GE Vernova Inc. (NYSE:GEV)

Great Lakes Advisors LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,796 shares of the company’s stock after selling 3,764 shares during the quarter. Great Lakes Advisors LLC’s holdings in GE Vernova were worth $19,340,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Armstrong Advisory Group Inc. boosted its stake in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC boosted its stake in GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC boosted its stake in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its position in shares of GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after acquiring an additional 31 shares during the last quarter.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $298.72 on Thursday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The business has a 50-day moving average of $357.33 and a two-hundred day moving average of $311.79. The company has a market capitalization of $82.42 billion and a P/E ratio of 53.73.

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 analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GEV shares. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

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.