Private Portfolio Partners LLC Acquires New Stake in GE Vernova Inc. (NYSE:GEV)

Private Portfolio Partners LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 747 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. 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 worth $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC bought a new position in GE Vernova in the 4th quarter worth about $25,000. Fairway Wealth LLC raised its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the period. Finally, Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Jefferies Financial Group lifted their price objective on GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Susquehanna initiated coverage on shares of GE Vernova in a report on Wednesday. They set a “positive” rating and a $370.00 target price on the stock. BMO Capital Markets reduced their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.27.

GE Vernova Stock Up 4.9 %

GE Vernova stock opened at $331.17 on Thursday. 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 moving average price of $339.82 and a 200 day moving average price of $324.64. The company has a market capitalization of $91.37 billion and a price-to-earnings ratio of 59.56.

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

GE Vernova announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.