HUB Investment Partners LLC Buys 55 Shares of GE Vernova Inc. (NYSE:GEV)

HUB Investment Partners LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,711 shares of the company’s stock after purchasing an additional 55 shares during the period. HUB Investment Partners LLC’s holdings in GE Vernova were worth $563,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Settian Capital LP purchased a new stake in GE Vernova in the fourth quarter worth $1,645,000. Strategic Financial Services Inc. increased its holdings in GE Vernova by 3.7% in the 4th quarter. Strategic Financial Services Inc. now owns 1,110 shares of the company’s stock worth $365,000 after acquiring an additional 40 shares during the last quarter. Sandy Spring Bank raised its stake in GE Vernova by 10.2% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $376,000 after acquiring an additional 106 shares during the period. Royal London Asset Management Ltd. lifted its holdings in GE Vernova by 40.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 129,739 shares of the company’s stock valued at $42,675,000 after purchasing an additional 37,686 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in GE Vernova by 106.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 23,914 shares of the company’s stock worth $7,872,000 after purchasing an additional 12,335 shares during the period.

GE Vernova Stock Performance

GEV stock opened at $334.21 on Friday. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The company has a market capitalization of $92.21 billion and a PE ratio of 60.11. The company’s 50 day moving average price is $352.15 and its two-hundred day moving average price is $317.44.

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

GE Vernova declared that its Board of Directors has approved a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on GEV. Jefferies Financial Group boosted their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Citigroup lifted their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

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.