Graney & King LLC Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

Graney & King LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 735 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds have also modified their holdings of GEV. Excalibur Management Corp raised its stake in shares of GE Vernova by 5.1% in the fourth quarter. Excalibur Management Corp now owns 914 shares of the company’s stock valued at $301,000 after acquiring an additional 44 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of GE Vernova during the fourth quarter worth $348,000. Financial Engines Advisors L.L.C. purchased a new position in shares of GE Vernova in the 4th quarter valued at about $504,000. UNIVEST FINANCIAL Corp acquired a new position in shares of GE Vernova during the 4th quarter worth $264,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of GE Vernova during the fourth quarter valued at $434,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $335.93 on Wednesday. The stock’s 50-day simple moving average is $350.80 and its 200-day simple moving average is $321.14. The firm has a market capitalization of $92.68 billion and a PE ratio of 60.42. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side 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 share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GEV. Evercore ISI boosted their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Robert W. Baird began coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Barclays reduced their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, 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. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.