Rodgers Brothers Inc. Sells 34 Shares of GE Vernova Inc. (NYSE:GEV)

Rodgers Brothers Inc. trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,501 shares of the company’s stock after selling 34 shares during the quarter. Rodgers Brothers Inc.’s holdings in GE Vernova were worth $494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% during 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 during the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter worth approximately $25,000. Fairway Wealth LLC grew its holdings 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 buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its position in shares of 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 acquiring an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in GE Vernova by 175.0% in the 3rd 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 a number of research analyst reports. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. TD Cowen began coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Price Performance

Shares of GEV opened at $305.92 on Tuesday. The firm has a market cap of $84.40 billion and a P/E ratio of 55.02. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The company has a 50 day simple moving average of $343.76 and a two-hundred day simple moving average of $323.97.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management 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.