Meeder Advisory Services Inc. Has $1.75 Million Position in GE Vernova Inc. (NYSE:GEV)

Meeder Advisory Services Inc. increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,321 shares of the company’s stock after purchasing an additional 246 shares during the quarter. Meeder Advisory Services Inc.’s holdings in GE Vernova were worth $1,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GEV. Register Financial Advisors LLC bought a new position in shares of GE Vernova in the 4th quarter valued at $206,000. GPS Wealth Strategies Group LLC raised its position in GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the last quarter. Yarbrough Capital LLC boosted its stake in shares of GE Vernova by 67.2% during the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after purchasing an additional 1,160 shares in the last quarter. Legacy Bridge LLC boosted its stake in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after purchasing an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after purchasing an additional 1,408 shares during the last quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. BMO Capital Markets dropped their price objective 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. Truist Financial raised their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Johnson Rice initiated coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Finally, Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. 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 company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $350.27.

GE Vernova Trading Up 4.9 %

GEV opened at $331.17 on Thursday. The company has a market cap of $91.37 billion and a price-to-earnings ratio of 59.56. The company’s fifty day moving average price is $339.82 and its two-hundred day moving average price is $324.64. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50.

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

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