Darden Wealth Group Inc Invests $380,000 in GE Vernova Inc. (NYSE:GEV)

Darden Wealth Group Inc acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,156 shares of the company’s stock, valued at approximately $380,000.

Several other hedge funds have also recently added to or reduced their stakes in GEV. Register Financial Advisors LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC lifted its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after buying an additional 822 shares in the last quarter. Yarbrough Capital LLC grew its holdings in GE Vernova by 67.2% during 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 during the last quarter. Legacy Bridge LLC increased its position in GE Vernova by 77.0% during the fourth 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 in the last quarter. Finally, CENTRAL TRUST Co raised its holdings in shares of GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after acquiring an additional 1,408 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. Citigroup increased their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Seven investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $349.20.

GE Vernova Price Performance

Shares of NYSE GEV opened at $271.40 on Friday. GE Vernova Inc. has a 1-year low of $125.86 and a 1-year high of $447.50. The company has a market capitalization of $74.19 billion and a price-to-earnings ratio of 48.81. The business has a 50-day moving average of $334.07 and a 200-day moving average of $325.35.

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

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.