Holderness Investments Co. Acquires 37 Shares of GE Vernova Inc. (NYSE:GEV)

Holderness Investments Co. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999 shares of the company’s stock after acquiring an additional 37 shares during the period. Holderness Investments Co.’s holdings in GE Vernova were worth $329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its position in shares of 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 purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC increased its position in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in GE Vernova in the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC grew its stake in shares of 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 acquiring an additional 77 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Evercore ISI increased their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Citigroup increased their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Stock Up 0.2 %

Shares of GEV opened at $336.46 on Friday. The business has a 50-day simple moving average of $352.82 and a two-hundred day simple moving average of $316.52. 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 $92.83 billion and a price-to-earnings ratio of 60.51.

GE Vernova (NYSE:GEV) last released its 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). 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 analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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