Avalon Trust Co Acquires 97 Shares of GE Vernova Inc. (NYSE:GEV)

Avalon Trust Co grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 312.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 128 shares of the company’s stock after purchasing an additional 97 shares during the period. Avalon Trust Co’s holdings in GE Vernova were worth $42,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the 3rd quarter valued at about $2,507,296,000. Raymond James Financial Inc. purchased a new stake in shares of GE Vernova during the fourth quarter valued at approximately $219,187,000. FMR LLC increased its position in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares in the last quarter.

GE Vernova Trading Up 4.5 %

NYSE GEV opened at $313.76 on Monday. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The stock’s 50 day moving average is $355.75 and its 200 day moving average is $314.43. The stock has a market cap of $86.57 billion and a PE ratio of 56.43.

GE Vernova (NYSE:GEV) last issued 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 company had revenue of $10.56 billion for 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% compared to the same quarter last year. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $349.02.

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.