Swiss National Bank Has $255.37 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Swiss National Bank reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 776,365 shares of the company’s stock after selling 37,200 shares during the quarter. Swiss National Bank owned 0.28% of GE Vernova worth $255,370,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of GE Vernova during the 4th quarter worth $35,000. Finally, Riggs Asset Managment Co. Inc. grew its holdings in shares of GE Vernova by 93.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Johnson Rice assumed coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Wells Fargo & Company upped their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. Seven equities research 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Trading Up 5.1 %

Shares of GEV stock opened at $298.72 on Thursday. The stock has a market cap of $82.42 billion and a price-to-earnings ratio of 53.73. The stock has a 50-day moving average of $357.33 and a 200-day moving average of $311.79. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has approved a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire 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.

GE Vernova Company 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.