Marietta Investment Partners LLC Purchases New Stake in GE Vernova Inc. (NYSE:GEV)

Marietta Investment Partners LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,206 shares of the company’s stock, valued at approximately $4,344,000.

Other hedge funds have also made changes to their positions in the company. Register Financial Advisors LLC acquired a new position in GE Vernova in the fourth quarter worth $206,000. GPS Wealth Strategies Group LLC grew its position in GE Vernova by 1,126.0% in the 4th 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 in the last quarter. Yarbrough Capital LLC lifted its holdings in GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after acquiring an additional 1,160 shares during the last quarter. Legacy Bridge LLC lifted 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 valued at $3,612,000 after acquiring an additional 4,776 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its holdings 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 last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of analyst reports. TD Cowen assumed coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective on the stock. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Truist Financial increased their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Price Performance

GEV stock opened at $334.21 on Friday. The company has a market cap of $92.21 billion and a P/E ratio of 60.11. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The stock’s fifty day moving average price is $352.15 and its 200-day moving average price is $317.44.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

GE Vernova 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.