Avalon Capital Management Grows Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Avalon Capital Management lifted its stake in GE Vernova Inc. (NYSE:GEV) by 43.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,680 shares of the company’s stock after purchasing an additional 505 shares during the quarter. Avalon Capital Management’s holdings in GE Vernova were worth $553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC raised its position 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. Pineridge Advisors LLC increased its holdings in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Covestor Ltd increased its holdings in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova in the 3rd quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC increased its holdings in GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Barclays raised their price objective on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird initiated coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.13.

GE Vernova Price Performance

NYSE GEV opened at $315.74 on Tuesday. The company has a market cap of $87.11 billion and a P/E ratio of 56.79. The stock has a 50-day moving average of $363.97 and a two-hundred day moving average of $302.17. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

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. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share 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 purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, December 20th. GE Vernova’s payout ratio is 17.99%.

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.