GE Vernova Inc. (NYSE:GEV) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its stake in GE Vernova Inc. (NYSE:GEV) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,766 shares of the company’s stock after selling 13,139 shares during the period. FineMark National Bank & Trust’s holdings in GE Vernova were worth $16,698,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% during the 4th 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 position in GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC increased its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the last quarter.

GE Vernova Trading Up 3.0 %

Shares of GE Vernova stock opened at $343.98 on Tuesday. The company has a 50-day moving average of $351.71 and a two-hundred day moving average of $320.18. The stock has a market cap of $94.91 billion and a PE ratio of 61.87. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last issued 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). The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. Royal Bank of Canada dropped their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company raised their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. BMO Capital Markets dropped their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, GE Vernova 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.