GE Vernova Inc. (NYSE:GEV) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,202 shares of the company’s stock after buying an additional 10,209 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GE Vernova were worth $41,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova during the third quarter worth approximately $2,507,296,000. WCM Investment Management LLC grew its position in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova during the fourth quarter worth approximately $219,187,000. FMR LLC grew its position in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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.

GE Vernova Trading Down 6.7 %

Shares of GE Vernova stock opened at $269.89 on Tuesday. The company’s 50-day moving average price is $358.84 and its two-hundred day moving average price is $311.18. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The stock has a market cap of $74.46 billion and a PE ratio of 48.54.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Evercore ISI lifted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Wolfe Research initiated coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $349.02.

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.