Pilgrim Partners Asia Pte Ltd Invests $69,000 in GE Vernova Inc. (NYSE:GEV)

Pilgrim Partners Asia Pte Ltd acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 210 shares of the company’s stock, valued at approximately $69,000.

A number of other institutional investors also recently modified their holdings of GEV. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at $25,000. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd bought a new position in GE Vernova during the fourth quarter valued at about $30,000.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped their target price on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Johnson Rice initiated coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. Citigroup raised their target price on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Barclays cut their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.20.

GE Vernova Trading Down 8.8 %

GE Vernova stock opened at $271.40 on Friday. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The company’s 50-day moving average is $334.07 and its two-hundred day moving average is $324.74. The company has a market cap of $74.19 billion and a PE ratio of 48.81.

GE Vernova (NYSE:GEV) last released its 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 business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors 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.