Meridian Investment Counsel Inc. Sells 437 Shares of GE Vernova Inc. (NYSE:GEV)

Meridian Investment Counsel Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 12.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,189 shares of the company’s stock after selling 437 shares during the period. Meridian Investment Counsel Inc.’s holdings in GE Vernova were worth $1,049,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. grew its stake in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC lifted its holdings in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after buying an additional 29 shares during the period. AdvisorNet Financial Inc grew its position in shares of GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC increased its stake in shares of GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares during the period. Finally, WASHINGTON TRUST Co raised its holdings in shares of GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after acquiring an additional 31 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada cut 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. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Bank of America boosted their price objective on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Citigroup boosted their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.54.

GE Vernova Stock Down 0.1 %

Shares of NYSE GEV opened at $302.71 on Monday. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The business’s 50 day moving average price is $345.68 and its 200 day moving average price is $323.33. The firm has a market cap of $83.52 billion and a P/E ratio of 54.44.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 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 business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.