OLD Point Trust & Financial Services N A Sells 139 Shares of GE Vernova Inc. (NYSE:GEV)

OLD Point Trust & Financial Services N A trimmed its position in GE Vernova Inc. (NYSE:GEV) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,410 shares of the company’s stock after selling 139 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in GE Vernova were worth $464,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC increased its stake 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 boosted its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its position 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. Asset Planning Inc acquired a new position in GE Vernova during the fourth quarter worth about $35,000. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in shares of GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after acquiring an additional 57 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GEV. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Robert W. Baird initiated coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target for the company. Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Stock Up 5.2 %

Shares of GE Vernova stock opened at $335.38 on Thursday. The company has a market cap of $92.53 billion and a PE ratio of 60.32. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The business has a 50 day moving average price of $353.42 and a 200-day moving average price of $316.38.

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

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

GE Vernova 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.