Signaturefd LLC increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 68.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,168 shares of the company's stock after acquiring an additional 3,328 shares during the period. Signaturefd LLC's holdings in GE Vernova were worth $2,687,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after buying an additional 39 shares in the last quarter. Fairway Wealth LLC grew 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 buying an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its position in 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 buying an additional 69 shares in the last quarter. Asset Planning Inc purchased a new position in GE Vernova in the 4th quarter valued at about $35,000. Finally, Riggs Asset Managment Co. Inc. lifted its stake in shares of GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock valued at $39,000 after buying an additional 57 shares during the period.
GE Vernova Trading Down 0.8 %
GEV traded down $2.62 on Friday, reaching $334.21. The company had a trading volume of 3,010,379 shares, compared to its average volume of 4,181,442. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a market capitalization of $92.21 billion and a P/E ratio of 60.11. The company has a fifty day moving average of $352.82 and a 200-day moving average of $316.52.
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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova's revenue was up 5.1% on a year-over-year basis. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.
Analyst Ratings Changes
A number of equities research analysts have recently commented on GEV shares. Citigroup lifted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Guggenheim raised shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price objective for the company in a research note on Wednesday, March 5th. William Blair reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $348.72.
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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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