Graney & King LLC Acquires Shares of 735 GE Vernova Inc. (NYSE:GEV)

Graney & King LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 735 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds have also made changes to their positions in GEV. Register Financial Advisors LLC acquired a new stake in GE Vernova during the fourth quarter worth $206,000. GPS Wealth Strategies Group LLC raised its position in shares of GE Vernova by 1,126.0% during 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 during the last quarter. Yarbrough Capital LLC increased its position in shares of GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after buying an additional 1,160 shares in the last quarter. Legacy Bridge LLC raised its holdings in GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after buying an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co grew its holdings 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 worth $3,247,000 after buying an additional 1,408 shares in the last quarter.

GE Vernova Stock Down 2.2 %

Shares of NYSE:GEV opened at $335.93 on Wednesday. The company has a 50-day moving average price of $350.80 and a 200 day moving average price of $321.14. The company has a market cap of $92.68 billion and a P/E ratio of 60.42. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last issued 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently commented on GEV shares. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Citigroup increased their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.