Cambridge Financial Group Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,372 shares of the company's stock, valued at approximately $2,096,000.
Other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its holdings in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after buying an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new position in GE Vernova during the 4th quarter valued at about $25,000. Fairway Wealth LLC grew its holdings in 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 purchasing an additional 55 shares during the period. Pineridge Advisors LLC increased 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 valued at $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings 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 valued at $31,000 after purchasing an additional 77 shares during the last quarter.
GE Vernova Price Performance
Shares of NYSE:GEV traded up $2.99 during midday trading on Monday, hitting $305.92. The company had a trading volume of 4,609,695 shares, compared to its average volume of 4,090,875. The company has a market cap of $84.40 billion and a price-to-earnings ratio of 55.02. The company has a fifty day moving average of $345.68 and a two-hundred day moving average of $323.33. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. 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 has authorized a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. Citigroup raised their price target on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Jefferies Financial Group increased their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Truist Financial lifted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $349.54.
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About GE Vernova
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Free Report)
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.
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