Holderness Investments Co. Boosts Stock Position in GE Vernova Inc. (NYSE:GEV)

Holderness Investments Co. increased its position in GE Vernova Inc. (NYSE:GEV) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 999 shares of the company’s stock after acquiring an additional 37 shares during the quarter. Holderness Investments Co.’s holdings in GE Vernova were worth $329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC increased its holdings in shares of 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 during the period. Fairway Wealth LLC boosted its stake in 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 grew its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares in the last quarter. Darwin Wealth Management LLC bought a new position in GE Vernova in the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares in the last quarter.

GE Vernova Stock Up 0.2 %

NYSE:GEV opened at $336.46 on Friday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The stock has a market cap of $92.83 billion and a P/E ratio of 60.51. The firm’s fifty day simple moving average is $352.82 and its 200 day simple moving average is $316.52.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several brokerages have recently commented on GEV. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Seven investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.