Rockbridge Investment Management LCC Invests $254,000 in GE Vernova Inc. (NYSE:GEV)

Rockbridge Investment Management LCC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 771 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova during the third quarter worth about $2,507,296,000. Raymond James Financial Inc. purchased a new stake in GE Vernova during the 4th quarter worth approximately $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of GE Vernova by 34.1% during the third 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 last quarter. Assenagon Asset Management S.A. lifted its position in shares of GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of GE Vernova by 108.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 699,942 shares of the company’s stock worth $230,232,000 after acquiring an additional 364,717 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $317.47 on Thursday. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The firm has a market capitalization of $87.59 billion and a P/E ratio of 57.10. The company’s fifty day moving average price is $349.42 and its 200 day moving average price is $321.12.

GE Vernova (NYSE:GEV) last posted its earnings results 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). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate 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 repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent research reports. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. BMO Capital Markets lowered their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Seven investment 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 data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $348.72.

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.