GE Vernova Inc. (NYSE:GEV) Shares Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,149 shares of the company’s stock after acquiring an additional 149 shares during the period. GE Vernova makes up about 0.9% of Princeton Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Princeton Capital Management LLC’s holdings in GE Vernova were worth $3,009,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GEV. FMR LLC increased its position in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares in the last quarter. State Street Corp grew its stake in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth $2,507,296,000. Geode Capital Management LLC lifted its holdings in GE Vernova by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after purchasing an additional 80,479 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in GE Vernova by 3.7% during the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after purchasing an additional 71,067 shares in the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $343.98 on Tuesday. The firm has a 50 day moving average price of $351.71 and a 200 day moving average price of $320.18. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The company has a market capitalization of $94.91 billion and a PE ratio of 61.87.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GEV shares. BMO Capital Markets reduced their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating on the stock. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group upped their target price on shares of GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Seven research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Company 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.