Sciencast Management LP Buys Shares of 1,198 GE Vernova Inc. (NYSE:GEV)

Sciencast Management LP bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,198 shares of the company’s stock, valued at approximately $394,000.

Several other institutional investors also recently bought and sold shares of GEV. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at about $2,507,296,000. Raymond James Financial Inc. purchased a new position in shares of GE Vernova in the 4th quarter valued at about $219,187,000. FMR LLC boosted its stake in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after buying an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake 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 buying an additional 456,879 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. Citigroup boosted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Robert W. Baird initiated coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price for the company. 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 note on Friday, January 24th. Wolfe Research initiated coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Finally, Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Seven equities research 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. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Price Performance

Shares of GEV stock opened at $334.21 on Friday. The business’s fifty day moving average price is $352.15 and its 200 day moving average price is $318.32. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a market capitalization of $92.21 billion and a PE ratio of 60.11.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect 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 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is 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.