Dorsey Wright & Associates Grows Position in GE Vernova Inc. (NYSE:GEV)

Dorsey Wright & Associates raised its position in GE Vernova Inc. (NYSE:GEV) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,664 shares of the company’s stock after purchasing an additional 873 shares during the period. GE Vernova makes up 1.7% of Dorsey Wright & Associates’ portfolio, making the stock its 11th biggest position. Dorsey Wright & Associates’ holdings in GE Vernova were worth $7,126,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Wolfe Research started coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price on the stock. BMO Capital Markets lowered their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Robert W. Baird began coverage on GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Stock Down 0.1 %

GEV stock 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 52 week low of $119.00 and a 52 week high of $447.50. The firm has a 50 day moving average of $345.68 and a 200 day moving average of $322.53.

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

GE Vernova declared that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are 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.