Sheets Smith Investment Management Invests $1.48 Million in GE Vernova Inc. (NYSE:GEV)

Sheets Smith Investment Management purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,493 shares of the company's stock, valued at approximately $1,478,000. GE Vernova makes up about 1.3% of Sheets Smith Investment Management's holdings, making the stock its 29th biggest position.

Several other large investors also recently made changes to their positions in the stock. Cedar Mountain Advisors LLC raised 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 buying an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC raised its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its position in shares of GE Vernova by 530.8% in 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. Finally, Prestige Wealth Management Group LLC boosted its holdings in 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 during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Finally, William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a report on Thursday, January 23rd. 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. According to MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $348.72.

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GE Vernova Price Performance

NYSE:GEV traded down $7.64 during mid-day trading on Tuesday, reaching $335.93. The stock had a trading volume of 2,630,630 shares, compared to its average volume of 3,518,216. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The stock has a market capitalization of $92.68 billion and a PE ratio of 60.42. The stock has a 50-day simple moving average of $350.80 and a two-hundred day simple moving average of $321.14.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 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 the consensus estimate of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are often an indication 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.