GE Vernova Inc. (NYSE:GEV) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 18.5% in the fourth quarter, Holdings Channel reports. The firm owned 188,290 shares of the company’s stock after buying an additional 29,408 shares during the period. Sei Investments Co.’s holdings in GE Vernova were worth $61,936,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% during the fourth 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. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova in the 4th quarter valued at $25,000. Fairway Wealth LLC boosted its holdings 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 acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its position in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its stake 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 purchasing an additional 77 shares during the period.

GE Vernova Trading Down 0.8 %

Shares of GEV opened at $334.21 on Monday. The company’s 50 day simple moving average is $352.15 and its 200-day simple moving average is $319.15. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The firm has a market cap of $92.21 billion and a PE ratio of 60.11.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Wolfe Research began coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. Barclays lowered their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.