GE Vernova Inc. (NYSE:GEV) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. lowered its position in GE Vernova Inc. (NYSE:GEV) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 quarter.

Several other hedge funds have also modified their holdings of GEV. Register Financial Advisors LLC acquired a new position in GE Vernova in the 4th quarter worth about $206,000. GPS Wealth Strategies Group LLC raised its stake in shares of GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after buying an additional 822 shares during the period. Yarbrough Capital LLC lifted its position in shares of GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after buying an additional 1,160 shares in the last quarter. Legacy Bridge LLC grew its stake in GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after acquiring an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in GE Vernova by 16.6% in the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after acquiring an additional 1,408 shares in the last quarter.

GE Vernova Trading Down 0.1 %

Shares of NYSE:GEV opened at $302.71 on Monday. The company has a market capitalization of $83.52 billion and a price-to-earnings ratio of 54.44. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The business has a 50-day moving average price of $345.68 and a 200 day moving average price of $323.33.

GE Vernova (NYSE:GEV) last announced its quarterly 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). 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 for the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. CICC Research assumed coverage on GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Truist Financial raised their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $349.54.

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.