Keystone Investors PTE Ltd. Decreases Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Keystone Investors PTE Ltd. lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 72.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,519 shares of the company’s stock after selling 30,489 shares during the quarter. Keystone Investors PTE Ltd.’s holdings in GE Vernova were worth $3,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its holdings in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the fourth quarter valued at $25,000. Fairway Wealth LLC lifted 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 in the last quarter. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its position in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

GE Vernova Stock Up 3.0 %

Shares of NYSE GEV opened at $343.98 on Tuesday. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The stock has a market capitalization of $94.91 billion and a price-to-earnings ratio of 61.87. The firm has a 50-day simple moving average of $351.71 and a 200-day simple moving average of $320.18.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company 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 was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEV. Evercore ISI lifted their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Bank of America raised their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $348.72.

About GE Vernova

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.