Cynosure Group LLC Has $5.82 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Cynosure Group LLC reduced its stake in GE Vernova Inc. (NYSE:GEV) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,695 shares of the company’s stock after selling 116 shares during the period. GE Vernova makes up approximately 0.9% of Cynosure Group LLC’s investment portfolio, making the stock its 23rd biggest position. Cynosure Group LLC’s holdings in GE Vernova were worth $5,820,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC boosted its stake in GE Vernova by 220.0% during 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 during the period. Pineridge Advisors LLC grew its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased 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 worth $31,000 after buying an additional 77 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $315.55 on Wednesday. The company has a market capitalization of $87.06 billion and a PE ratio of 56.75. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The business has a fifty day moving average price of $341.74 and a two-hundred day moving average price of $324.60.

GE Vernova (NYSE:GEV) last posted 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). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has approved a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEV. JPMorgan Chase & Co. raised their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

About GE Vernova

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.