GE Vernova Inc. (NYSE:GEV) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 206.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141 shares of the company’s stock after purchasing an additional 95 shares during the quarter. Meeder Asset Management Inc.’s holdings in GE Vernova were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC increased its stake in GE Vernova by 102.6% in the 4th 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. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC raised its stake 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 buying an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the last quarter.

GE Vernova Stock Up 3.4 %

Shares of NYSE GEV opened at $315.55 on Wednesday. The firm has a market cap of $87.06 billion and a PE ratio of 56.75. The business has a 50 day moving average price of $341.74 and a two-hundred day moving average price of $324.60. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last posted 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 firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Robert W. Baird assumed coverage on GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective for the company. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. Citigroup boosted their target price 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. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $349.54.

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.