Caisse Des Depots ET Consignations Makes New $768,000 Investment in GE Vernova Inc. (NYSE:GEV)

Caisse Des Depots ET Consignations bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,336 shares of the company’s stock, valued at approximately $768,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blair William & Co. IL boosted its position in GE Vernova by 86.6% during the 4th quarter. Blair William & Co. IL now owns 130,595 shares of the company’s stock valued at $42,957,000 after acquiring an additional 60,617 shares in the last quarter. Rockbridge Investment Management LCC bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $254,000. NEOS Investment Management LLC grew its stake in GE Vernova by 49.1% in the fourth quarter. NEOS Investment Management LLC now owns 18,071 shares of the company’s stock worth $5,944,000 after purchasing an additional 5,952 shares during the period. UniSuper Management Pty Ltd grew its stake in GE Vernova by 12.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 18,167 shares of the company’s stock worth $5,976,000 after purchasing an additional 2,059 shares during the period. Finally, Artisan Partners Limited Partnership lifted its position in GE Vernova by 108.8% during the fourth quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company’s stock valued at $230,232,000 after buying an additional 364,717 shares during the period.

GE Vernova Price Performance

NYSE:GEV opened at $303.10 on Friday. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The business has a fifty day moving average price of $347.66 and a 200-day moving average price of $320.99. The firm has a market capitalization of $83.63 billion and a price-to-earnings ratio of 54.51.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue for the quarter 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 fiscal year.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GEV shares. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group raised their target price 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. 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. Citigroup lifted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $349.54.

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.