Rodgers Brothers Inc. Lowers Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Rodgers Brothers Inc. reduced its position in GE Vernova Inc. (NYSE:GEV) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its position in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after purchasing an additional 118,184 shares in the last quarter. Mountaineer Partners Management LLC bought a new stake in GE Vernova during the third quarter valued at $2,507,296,000. Geode Capital Management LLC grew its position in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock worth $1,420,763,000 after buying an additional 80,479 shares in the last quarter. Norges Bank bought a new position in GE Vernova in the 4th quarter worth about $1,109,720,000. Finally, Franklin Resources Inc. raised its holdings in shares of GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after acquiring an additional 71,067 shares in the last quarter.

GE Vernova Price Performance

GEV stock opened at $305.92 on Tuesday. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The firm has a 50-day moving average of $343.76 and a 200 day moving average of $323.97. The company has a market cap of $84.40 billion and a P/E ratio of 55.02.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect 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 share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GEV shares. The Goldman Sachs Group upped their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $349.54.

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.