Pitcairn Co. Has $639,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Pitcairn Co. decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,943 shares of the company’s stock after selling 58 shares during the period. Pitcairn Co.’s holdings in GE Vernova were worth $639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ExodusPoint Capital Management LP acquired a new stake in shares of GE Vernova during the 4th quarter valued at about $11,948,000. Arete Wealth Advisors LLC raised its position in GE Vernova by 185.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,646 shares of the company’s stock valued at $1,540,000 after acquiring an additional 3,020 shares in the last quarter. World Investment Advisors lifted its stake in GE Vernova by 7.6% in the fourth quarter. World Investment Advisors now owns 3,096 shares of the company’s stock valued at $1,018,000 after acquiring an additional 220 shares during the last quarter. Westpac Banking Corp grew its position in GE Vernova by 378.6% in the fourth quarter. Westpac Banking Corp now owns 4,102 shares of the company’s stock worth $1,349,000 after acquiring an additional 3,245 shares in the last quarter. Finally, Nicolet Advisory Services LLC increased its stake in shares of GE Vernova by 3.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 1,023 shares of the company’s stock worth $336,000 after purchasing an additional 38 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEV. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Johnson Rice began coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price for the company. Finally, Robert W. Baird began coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective for the company. Seven 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.20.

GE Vernova Stock Down 8.8 %

Shares of GEV opened at $271.40 on Friday. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The stock has a market cap of $74.19 billion and a price-to-earnings ratio of 48.81. The company has a 50-day moving average price of $334.07 and a two-hundred day moving average price of $324.74.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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 company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

About GE Vernova

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.