GE Vernova Inc. (NYSE:GEV) Holdings Decreased by Kimelman & Baird LLC

Kimelman & Baird LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,053 shares of the company’s stock after selling 561 shares during the quarter. Kimelman & Baird LLC’s holdings in GE Vernova were worth $675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC raised its stake in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GEV. Robert W. Baird began coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price on the stock. Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Barclays lowered their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $313.76 on Monday. The firm has a market cap of $86.57 billion and a price-to-earnings ratio of 56.43. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock has a 50-day simple moving average of $355.75 and a 200-day simple moving average of $314.43.

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

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are 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.