Baxter Bros Inc. Sells 54 Shares of GE Vernova Inc. (NYSE:GEV)

Baxter Bros Inc. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,875 shares of the company’s stock after selling 54 shares during the quarter. Baxter Bros Inc.’s holdings in GE Vernova were worth $3,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Register Financial Advisors LLC acquired a new position in shares of GE Vernova during the fourth quarter worth $206,000. GPS Wealth Strategies Group LLC increased its holdings in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares in the last quarter. Yarbrough Capital LLC raised its position in GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after purchasing an additional 1,160 shares during the last quarter. Legacy Bridge LLC boosted its stake in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after purchasing an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after purchasing an additional 1,408 shares during the last quarter.

GE Vernova Stock Up 3.0 %

Shares of NYSE:GEV opened at $343.98 on Tuesday. The company’s fifty day moving average is $351.71 and its 200 day moving average is $320.18. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The stock has a market cap of $94.91 billion and a PE ratio of 61.87.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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 return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has authorized 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 purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GEV shares. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Royal Bank of Canada reduced their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

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.