Waterloo Capital L.P. Takes $375,000 Position in GE Vernova Inc. (NYSE:GEV)

Waterloo Capital L.P. acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,139 shares of the company’s stock, valued at approximately $375,000.

Several other large investors have also bought and sold shares of GEV. Norges Bank acquired a new position in GE Vernova in the fourth quarter worth approximately $1,109,720,000. Massachusetts Financial Services Co. MA grew its holdings in shares of GE Vernova by 1,638.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova during the fourth quarter worth $219,187,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of GE Vernova by 555.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock valued at $187,404,000 after purchasing an additional 482,787 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after purchasing an additional 456,879 shares during the period.

GE Vernova Stock Up 4.9 %

Shares of GE Vernova stock opened at $284.92 on Tuesday. GE Vernova Inc. has a 12-month low of $125.86 and a 12-month high of $447.50. The stock has a 50 day moving average price of $333.17 and a two-hundred day moving average price of $326.26. The stock has a market capitalization of $77.88 billion and a P/E ratio of 51.24.

GE Vernova (NYSE:GEV) last released 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). 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%. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Susquehanna assumed coverage on shares of GE Vernova in a research report on Wednesday, April 2nd. They issued a “positive” rating and a $370.00 price target for the company. Robert W. Baird initiated coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. 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 for the company. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $349.20.

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.