556 Shares in GE Vernova Inc. (NYSE:GEV) Acquired by CoreFirst Bank & Trust

CoreFirst Bank & Trust bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, HoldingsChannel.com reports. The firm bought 556 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the last quarter. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the 4th quarter valued at about $25,000. Fairway Wealth LLC lifted its stake 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 purchasing an additional 55 shares during the period. Pineridge Advisors LLC boosted its holdings 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 buying an additional 69 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the period.

GE Vernova Stock Performance

GEV stock opened at $343.98 on Tuesday. The firm has a fifty day moving average price of $351.71 and a 200 day moving average price of $320.18. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The firm has a market cap of $94.91 billion and a PE ratio of 61.87.

GE Vernova (NYSE:GEV) last issued 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 business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Citigroup upped their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, 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 objective for the company. Seven 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.