Choate Investment Advisors Has $1.31 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Choate Investment Advisors increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 23.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,975 shares of the company’s stock after purchasing an additional 748 shares during the period. Choate Investment Advisors’ holdings in GE Vernova were worth $1,307,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GEV. Mountaineer Partners Management LLC bought a new position in GE Vernova during the third quarter valued at about $2,507,296,000. Raymond James Financial Inc. bought a new position in GE Vernova during the fourth quarter valued at about $219,187,000. FMR LLC increased its stake in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after purchasing an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after purchasing an additional 456,879 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Barclays lowered their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Wells Fargo & Company upped their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Trading Up 4.5 %

Shares of GE Vernova stock opened at $313.76 on Monday. The company has a market capitalization of $86.57 billion and a PE ratio of 56.43. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The stock’s fifty day simple moving average is $355.75 and its 200 day simple moving average is $314.43.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

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.