Cibc World Markets Corp Buys 158,389 Shares of GE Vernova Inc. (NYSE:GEV)

Cibc World Markets Corp raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 425.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 195,650 shares of the company’s stock after purchasing an additional 158,389 shares during the quarter. Cibc World Markets Corp’s holdings in GE Vernova were worth $64,355,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Mountaineer Partners Management LLC acquired a new position in GE Vernova in the 3rd quarter valued at approximately $2,507,296,000. Raymond James Financial Inc. acquired a new position in shares of GE Vernova in the fourth quarter valued at $219,187,000. FMR LLC raised its stake in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after purchasing an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after buying an additional 456,879 shares in the last quarter.

GE Vernova Price Performance

GE Vernova stock opened at $313.76 on Monday. The company’s 50-day moving average is $355.75 and its 200-day moving average is $314.43. The firm has a market capitalization of $86.57 billion and a PE ratio of 56.43. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current 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 outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GEV shares. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Robert W. Baird began coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova 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.