Fairway Wealth LLC Increases Stake in GE Vernova Inc. (NYSE:GEV)

Fairway Wealth LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 220.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80 shares of the company’s stock after purchasing an additional 55 shares during the quarter. Fairway Wealth LLC’s holdings in GE Vernova were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova during the third quarter valued at $2,507,296,000. Raymond James Financial Inc. purchased a new position in GE Vernova during the 4th quarter valued at approximately $219,187,000. FMR LLC boosted its holdings in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in GE Vernova by 34.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after acquiring an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after purchasing an additional 456,879 shares in the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $283.52 on Wednesday. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50. The firm has a market capitalization of $78.22 billion and a PE ratio of 50.99. The business’s fifty day moving average price is $357.93 and its 200 day moving average price is $311.88.

GE Vernova (NYSE:GEV) last announced its earnings results 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. BMO Capital Markets cut their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Truist Financial raised their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $349.02.

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.