UNIVEST FINANCIAL Corp Makes New $264,000 Investment in GE Vernova Inc. (NYSE:GEV)

UNIVEST FINANCIAL Corp acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel.com reports. The firm acquired 804 shares of the company’s stock, valued at approximately $264,000.

Several other hedge funds have also made changes to their positions in the stock. Howard Capital Management Group LLC acquired a new position in GE Vernova in the 3rd quarter valued at approximately $213,000. Centaurus Financial Inc. raised its stake in shares of GE Vernova by 12.0% in the third quarter. Centaurus Financial Inc. now owns 823 shares of the company’s stock valued at $210,000 after purchasing an additional 88 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in GE Vernova in the third quarter worth $545,000. Independent Advisor Alliance lifted its position in GE Vernova by 14.0% in the third quarter. Independent Advisor Alliance now owns 5,075 shares of the company’s stock worth $1,294,000 after purchasing an additional 624 shares during the period. Finally, DRW Securities LLC acquired a new stake in GE Vernova during the third quarter worth $403,000.

Analysts Set New Price Targets

GEV has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Royal Bank of Canada decreased their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Truist Financial increased their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Robert W. Baird initiated coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Seven investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Stock Performance

Shares of GEV stock opened at $317.47 on Thursday. The firm’s 50 day moving average price is $349.42 and its two-hundred day moving average price is $321.12. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock has a market cap of $87.59 billion and a PE ratio of 57.10.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side 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 approved a share repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors 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.