Parker Investment Management LLC Purchases Shares of 42,773 GE Vernova Inc. (NYSE:GEV)

Parker Investment Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, Holdings Channel reports. The fund acquired 42,773 shares of the company’s stock, valued at approximately $14,069,000. GE Vernova makes up 2.2% of Parker Investment Management LLC’s investment portfolio, making the stock its 11th biggest position.

Other large investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC increased its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Asset Planning Inc purchased a new position in shares of GE Vernova during the fourth quarter worth $35,000. Riggs Asset Managment Co. Inc. lifted its position in GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after purchasing an additional 57 shares during the period. Finally, Covestor Ltd lifted 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 purchasing an additional 46 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GEV shares. JPMorgan Chase & Co. lifted their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Robert W. Baird started coverage on GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. New Street Research set a $380.00 price objective on shares of GE Vernova in a research note on Wednesday, March 5th. Barclays decreased their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Stock Down 6.7 %

NYSE GEV opened at $269.89 on Tuesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The firm has a 50 day moving average of $358.84 and a two-hundred day moving average of $311.18. The stock has a market capitalization of $74.46 billion and a PE ratio of 48.54.

GE Vernova (NYSE:GEV) last issued its earnings results 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect 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 authorized a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are 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.