Cullen Capital Management LLC Trims Position in GE Vernova Inc. (NYSE:GEV)

Cullen Capital Management LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,600 shares of the company’s stock after selling 37 shares during the quarter. Cullen Capital Management LLC’s holdings in GE Vernova were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in 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 worth $25,000. Fairway Wealth LLC increased 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 buying an additional 55 shares during the period. Pineridge Advisors LLC raised 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 acquiring an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new stake in GE Vernova in the fourth quarter worth about $30,000.

GE Vernova Stock Performance

NYSE GEV opened at $271.40 on Friday. The firm has a market capitalization of $74.19 billion and a P/E ratio of 48.81. The stock has a 50-day simple moving average of $334.07 and a two-hundred day simple moving average of $325.35. GE Vernova Inc. has a fifty-two week low of $125.86 and a fifty-two week high of $447.50.

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 analyst estimates of $10.70 billion. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has approved a stock buyback 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 typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of several recent research reports. Truist Financial set a $440.00 price target on shares of GE Vernova in a report on Thursday, March 27th. New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Susquehanna began coverage on GE Vernova in a research note on Wednesday. They set a “positive” rating and a $370.00 price objective for the company. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $349.20.

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.