Discovery Capital Management LLC CT Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Discovery Capital Management LLC CT purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 70,200 shares of the company’s stock, valued at approximately $23,091,000. GE Vernova accounts for 1.6% of Discovery Capital Management LLC CT’s holdings, making the stock its 23rd largest position.

A number of other large investors have also made changes to their positions in GEV. Armstrong Advisory Group Inc. grew its stake in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares during the period. Hengehold Capital Management LLC grew its position in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares during the period. AdvisorNet Financial Inc increased its stake in GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC lifted its stake in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after acquiring an additional 31 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. Evercore ISI increased their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price on the stock. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Finally, Johnson Rice started coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $349.54.

GE Vernova Stock Up 1.0 %

Shares of NYSE:GEV opened at $305.92 on Tuesday. The stock has a market cap of $84.40 billion and a PE ratio of 55.02. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The business has a 50 day moving average of $343.76 and a 200-day moving average of $323.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership 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.