Aire Advisors LLC Purchases 90 Shares of GE Vernova Inc. (NYSE:GEV)

Aire Advisors LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,616 shares of the company’s stock after acquiring an additional 90 shares during the period. Aire Advisors LLC’s holdings in GE Vernova were worth $532,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. 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 valued at $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter worth about $25,000. Fairway Wealth LLC grew its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the period.

GE Vernova Stock Up 3.0 %

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

GE Vernova (NYSE:GEV) last announced its quarterly 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). 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 for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird started coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group raised their price target on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. 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 company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

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.