699 Shares in GE Vernova Inc. (NYSE:GEV) Bought by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 699 shares of the company’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its stake in shares of GE Vernova by 102.6% during 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 in the last quarter. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its stake 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 purchasing an additional 69 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the third quarter worth $31,000. Finally, Prestige Wealth Management Group LLC grew its stake in shares of GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

GE Vernova Stock Down 4.0 %

NYSE GEV opened at $318.64 on Wednesday. The stock has a market capitalization of $87.91 billion and a P/E ratio of 57.31. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The firm has a 50-day moving average price of $354.04 and a 200 day moving average price of $316.24.

GE Vernova (NYSE:GEV) last posted 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. 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 buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. CICC Research assumed coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Truist Financial upped their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI upped their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has a consensus 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.