GE Vernova Inc. (NYSE:GEV) Stake Lifted by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 66.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202 shares of the company’s stock after buying an additional 81 shares during the period. Prestige Wealth Management Group LLC’s holdings in GE Vernova were worth $66,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC lifted its position in 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 purchasing an additional 39 shares during the last quarter. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC raised its holdings 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 last quarter. Pineridge Advisors LLC boosted its position in shares of 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 during the period. Finally, Asset Planning Inc bought a new position in GE Vernova in the 4th quarter worth approximately $35,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GEV shares. Robert W. Baird began coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price on the stock. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Royal Bank of Canada reduced their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Citigroup upped their price target 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. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Price Performance

GEV stock opened at $335.93 on Wednesday. The firm has a market capitalization of $92.68 billion and a P/E ratio of 60.42. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The company’s 50 day simple moving average is $350.80 and its 200-day simple moving average is $321.14.

GE Vernova (NYSE:GEV) last announced its 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). 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%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.