Wellington Shields Capital Management LLC Lowers Holdings in GE Vernova Inc. (NYSE:GEV)

Wellington Shields Capital Management LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 11.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,864 shares of the company’s stock after selling 240 shares during the period. Wellington Shields Capital Management LLC’s holdings in GE Vernova were worth $613,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC boosted its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC raised its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC boosted its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Covestor Ltd grew its position in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter worth about $31,000.

GE Vernova Price Performance

Shares of GEV opened at $300.27 on Friday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The stock has a fifty day moving average price of $356.55 and a 200 day moving average price of $311.71. The company has a market cap of $82.84 billion and a P/E ratio of 54.00.

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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Wolfe Research initiated coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. BMO Capital Markets lowered their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. CICC Research started coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

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.