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

Sei Investments Co. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 18.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 188,290 shares of the company’s stock after acquiring an additional 29,408 shares during the quarter. Sei Investments Co. owned about 0.07% of GE Vernova worth $61,936,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC boosted its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of GE Vernova during the fourth quarter worth $35,000.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $334.21 on Monday. The stock’s 50 day simple moving average is $352.15 and its 200-day simple moving average is $319.15. The stock has a market cap of $92.21 billion and a P/E ratio of 60.11. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GEV shares. Wells Fargo & Company increased their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen began coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.