Corient Private Wealth LLC Decreases Stock Position in GE Vernova Inc. (NYSE:GEV)

Corient Private Wealth LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,322 shares of the company’s stock after selling 300 shares during the period. Corient Private Wealth LLC’s holdings in GE Vernova were worth $18,526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its holdings in 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 during the period. Fairway Wealth LLC boosted its holdings 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 purchasing an additional 55 shares during the period. Pineridge Advisors LLC boosted its holdings 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 purchasing an additional 69 shares during the period. Asset Planning Inc purchased a new position in GE Vernova in the fourth quarter valued at $35,000. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after purchasing an additional 57 shares during the period.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent analyst reports. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Jefferies Financial Group lifted 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. Citigroup lifted their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted 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. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a report on Wednesday, March 5th. Seven 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Stock Down 4.0 %

Shares of GEV stock opened at $318.64 on Wednesday. The stock has a market capitalization of $87.91 billion and a PE ratio of 57.31. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock’s 50-day moving average price is $354.04 and its 200 day moving average price is $316.24.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are 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.