L & S Advisors Inc Boosts Stock Position in GE Vernova Inc. (NYSE:GEV)

L & S Advisors Inc increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 337.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,945 shares of the company's stock after purchasing an additional 16,157 shares during the quarter. L & S Advisors Inc's holdings in GE Vernova were worth $6,889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC lifted its stake in GE Vernova by 102.6% in 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 during the last quarter. MRP Capital Investments LLC bought a new stake in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC boosted its holdings 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 during the period. Pineridge Advisors LLC grew its position in 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 last quarter. Finally, Prestige Wealth Management Group LLC increased its stake in GE Vernova by 175.0% in 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 during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. BMO Capital Markets reduced their target price on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. CICC Research assumed coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Guggenheim raised GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 target price for the company in a research report on Wednesday, March 5th. Seven investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $349.54.

Remove Ads

GE Vernova Stock Performance

NYSE:GEV traded up $2.99 during mid-day trading on Monday, hitting $305.92. 4,676,277 shares of the company's stock traded hands, compared to its average volume of 3,596,119. The company has a fifty day moving average of $345.68 and a 200 day moving average of $323.33. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a market capitalization of $84.40 billion and a P/E ratio of 55.02.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 company 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 quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is 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.