Kimelman & Baird LLC Has $675,000 Position in GE Vernova Inc. (NYSE:GEV)

Kimelman & Baird LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 21.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,053 shares of the company’s stock after selling 561 shares during the period. Kimelman & Baird LLC’s holdings in GE Vernova were worth $675,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Raymond James Financial Inc. bought a new position in GE Vernova in the 4th quarter worth approximately $219,187,000. FMR LLC increased its position in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after buying an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after buying an additional 456,879 shares during the period.

GE Vernova Stock Performance

GE Vernova stock opened at $313.76 on Monday. The firm has a market cap of $86.57 billion and a P/E ratio of 56.43. The business’s fifty day moving average is $355.75 and its two-hundred day moving average is $314.43. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) 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). The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Wells Fargo & Company lifted their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $349.02.

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.