GE Vernova Inc. (NYSE:GEV) Shares Purchased by Haverford Trust Co

Haverford Trust Co raised its stake in GE Vernova Inc. (NYSE:GEV) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,167 shares of the company’s stock after buying an additional 119 shares during the quarter. Haverford Trust Co’s holdings in GE Vernova were worth $1,042,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the fourth quarter worth $25,000. Cedar Mountain Advisors LLC lifted its stake in 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 acquiring an additional 39 shares in the last quarter. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in shares of 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 in the last quarter. Finally, Asset Planning Inc purchased a new position in GE Vernova in the 4th quarter valued at approximately $35,000.

GE Vernova Trading Up 3.0 %

GE Vernova stock opened at $343.98 on Tuesday. The firm has a market capitalization of $94.91 billion and a P/E ratio of 61.87. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The stock has a fifty day moving average price of $351.71 and a 200 day moving average price of $320.18.

GE Vernova (NYSE:GEV) last issued 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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has authorized a share repurchase 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 usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. New Street Research set a $380.00 price target on shares of GE Vernova in a research note on Wednesday, March 5th. Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price on the stock. 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. Finally, Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Seven 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.