Cynosure Group LLC Decreases Stake in GE Vernova Inc. (NYSE:GEV)

Cynosure Group LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 17,695 shares of the company’s stock after selling 116 shares during the period. GE Vernova accounts for about 0.9% of Cynosure Group LLC’s holdings, making the stock its 23rd biggest holding. Cynosure Group LLC’s holdings in GE Vernova were worth $5,820,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. MRP Capital Investments LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Cedar Mountain Advisors LLC lifted its stake 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 acquiring an additional 39 shares during the period. Fairway Wealth LLC lifted its holdings in 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 acquiring an additional 55 shares during the period. Pineridge Advisors LLC raised its holdings 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 purchasing an additional 69 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $35,000.

GE Vernova Stock Performance

GE Vernova stock opened at $315.55 on Wednesday. The stock has a market cap of $87.06 billion and a P/E ratio of 56.75. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The firm’s fifty day moving average price is $341.74 and its 200-day moving average price is $324.60.

GE Vernova (NYSE:GEV) last announced its 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 analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, 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 plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GEV. Truist Financial raised their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Barclays lowered their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Seven investment 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 company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

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.