Generali Asset Management SPA SGR bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,984 shares of the company's stock, valued at approximately $2,297,000.
A number of other institutional investors and hedge funds have also bought and sold shares of GEV. Cedar Mountain Advisors LLC increased its holdings 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 buying an additional 39 shares during the period. Fairway Wealth LLC boosted its position in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% in the 4th 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 period. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC raised its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after acquiring an additional 77 shares in the last quarter.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a research note on Friday, January 31st. CICC Research started coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Citigroup lifted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $348.72.
Check Out Our Latest Report on GEV
GE Vernova Stock Performance
Shares of GE Vernova stock traded up $10.11 on Monday, hitting $343.98. The company's stock had a trading volume of 3,140,099 shares, compared to its average volume of 3,518,318. The company has a market capitalization of $94.91 billion and a price-to-earnings ratio of 61.87. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The firm has a fifty day moving average price of $352.15 and a 200-day moving average price of $319.15.
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 analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. The business's revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current 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.
About GE Vernova
(
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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