GE Vernova Inc. (NYSE:GEV) Stake Lifted by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its stake in GE Vernova Inc. (NYSE:GEV) by 206.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 141 shares of the company’s stock after buying an additional 95 shares during the quarter. Meeder Asset Management Inc.’s holdings in GE Vernova were worth $46,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Register Financial Advisors LLC acquired a new position in GE Vernova during the 4th quarter valued at about $206,000. GPS Wealth Strategies Group LLC raised its holdings in shares of GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after buying an additional 822 shares during the last quarter. Yarbrough Capital LLC boosted its position in shares of GE Vernova by 67.2% during the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after buying an additional 1,160 shares during the period. Legacy Bridge LLC grew its holdings in GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after buying an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in GE Vernova by 16.6% in the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after acquiring an additional 1,408 shares during the period.

GE Vernova Trading Up 3.4 %

Shares of GE Vernova stock opened at $315.55 on Wednesday. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The company has a market cap of $87.06 billion and a P/E ratio of 56.75. The stock has a 50-day moving average price of $341.74 and a 200 day moving average price of $324.60.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 net margin of 4.44% and a return on equity of 6.70%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has approved a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada dropped their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. BMO Capital Markets reduced their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Jefferies Financial Group raised their price objective on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $349.54.

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.