World Investment Advisors Purchases 220 Shares of GE Vernova Inc. (NYSE:GEV)

World Investment Advisors increased its position in GE Vernova Inc. (NYSE:GEV) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,096 shares of the company’s stock after buying an additional 220 shares during the period. World Investment Advisors’ holdings in GE Vernova were worth $1,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the 4th quarter worth $25,000. Fairway Wealth LLC increased its holdings 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 buying an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares during the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent research reports. Evercore ISI upped their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Johnson Rice started coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $349.20.

GE Vernova Price Performance

Shares of NYSE GEV opened at $271.40 on Monday. GE Vernova Inc. has a 1-year low of $125.86 and a 1-year high of $447.50. The business has a fifty day moving average price of $334.07 and a 200 day moving average price of $325.98. The stock has a market capitalization of $74.19 billion and a P/E ratio of 48.81.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for 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 revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has initiated a share buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.