Hollencrest Capital Management Sells 534 Shares of GE Vernova Inc. (NYSE:GEV)

Hollencrest Capital Management cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,133 shares of the company’s stock after selling 534 shares during the period. Hollencrest Capital Management’s holdings in GE Vernova were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Howard Capital Management Group LLC bought a new position in GE Vernova in the third quarter valued at approximately $213,000. CWA Asset Management Group LLC acquired a new position in shares of GE Vernova in the third quarter valued at $296,000. SpiderRock Advisors LLC increased its holdings in shares of GE Vernova by 11.9% in the third quarter. SpiderRock Advisors LLC now owns 1,875 shares of the company’s stock valued at $478,000 after purchasing an additional 199 shares during the last quarter. Assetmark Inc. increased its holdings in shares of GE Vernova by 1,280.4% in the third quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock valued at $1,961,000 after purchasing an additional 7,132 shares during the last quarter. Finally, Atria Investments Inc boosted its position in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 target price on shares of GE Vernova in a research report on Tuesday, January 28th. Barclays lowered 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. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. CICC Research initiated coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Stock Performance

Shares of GEV opened at $283.52 on Wednesday. The firm has a market cap of $78.22 billion and a P/E ratio of 50.99. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The business has a 50-day moving average of $357.93 and a 200 day moving average of $311.88.

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). The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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