Nemes Rush Group LLC Purchases Shares of 282 GE Vernova Inc. (NYSE:GEV)

Nemes Rush Group LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 282 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors also recently added to or reduced their stakes in GEV. Register Financial Advisors LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth approximately $206,000. GPS Wealth Strategies Group LLC increased 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 acquiring an additional 822 shares in the last quarter. Yarbrough Capital LLC raised its stake in shares of GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after acquiring an additional 1,160 shares during the last quarter. Legacy Bridge LLC lifted its position in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after purchasing an additional 1,408 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of several research reports. Citigroup upped their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Truist Financial raised their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $349.54.

GE Vernova Stock Up 3.4 %

NYSE:GEV opened at $315.55 on Wednesday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a market cap of $87.06 billion and a P/E ratio of 56.75. The business has a 50 day moving average price of $341.74 and a two-hundred day moving average price of $324.60.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

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.