Plancorp LLC Sells 350 Shares of GE Vernova Inc. (NYSE:GEV)

Plancorp LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,133 shares of the company’s stock after selling 350 shares during the period. Plancorp LLC’s holdings in GE Vernova were worth $1,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC lifted its position in GE Vernova by 102.6% during the fourth 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. MRP Capital Investments LLC purchased a new stake in GE Vernova during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC lifted its position 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 acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its position in GE Vernova by 530.8% during 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 during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in GE Vernova during the third quarter valued at approximately $31,000.

Analysts Set New Price Targets

A number of research firms recently commented on GEV. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target for the company. Wells Fargo & Company raised their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. 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 data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $348.72.

GE Vernova Stock Performance

GEV stock opened at $334.21 on Friday. The firm has a market cap of $92.21 billion and a PE ratio of 60.11. The firm’s fifty day moving average is $352.15 and its 200 day moving average is $317.44. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase 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.