Strategic Financial Services Inc. Has $365,000 Position in GE Vernova Inc. (NYSE:GEV)

Strategic Financial Services Inc. increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,110 shares of the company’s stock after buying an additional 40 shares during the quarter. Strategic Financial Services Inc.’s holdings in GE Vernova were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sandy Spring Bank boosted its stake in shares of GE Vernova by 10.2% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $376,000 after purchasing an additional 106 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of GE Vernova by 40.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 129,739 shares of the company’s stock worth $42,675,000 after purchasing an additional 37,686 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of GE Vernova by 106.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 23,914 shares of the company’s stock valued at $7,872,000 after purchasing an additional 12,335 shares during the last quarter. Wulff Hansen & CO. increased its position in shares of GE Vernova by 17.3% during the fourth quarter. Wulff Hansen & CO. now owns 2,112 shares of the company’s stock worth $695,000 after buying an additional 311 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in GE Vernova in the fourth quarter valued at $2,297,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $335.38 on Thursday. 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 $92.53 billion and a P/E ratio of 60.32. The business’s 50 day moving average price is $353.42 and its 200-day moving average price is $316.38.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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). 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 analysts’ expectations of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

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.