Keystone Investors PTE Ltd. Trims Stock Position in GE Vernova Inc. (NYSE:GEV)

Keystone Investors PTE Ltd. decreased its position in GE Vernova Inc. (NYSE:GEV) by 72.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,519 shares of the company’s stock after selling 30,489 shares during the period. Keystone Investors PTE Ltd.’s holdings in GE Vernova were worth $3,789,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its position in 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 purchasing an additional 69 shares during the period. Finally, Prestige Wealth Management Group LLC raised 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 purchasing an additional 77 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Robert W. Baird initiated coverage on shares of GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Seven 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Trading Up 3.0 %

NYSE GEV opened at $343.98 on Tuesday. The stock has a market capitalization of $94.91 billion and a price-to-earnings ratio of 61.87. The stock has a 50-day moving average of $351.71 and a 200 day moving average of $320.18. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last announced 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication 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.