Nemes Rush Group LLC Buys Shares of 282 GE Vernova Inc. (NYSE:GEV)

Nemes Rush Group LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 282 shares of the company’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new stake in GE Vernova in the third quarter worth approximately $2,507,296,000. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter valued at $1,109,720,000. Raymond James Financial Inc. bought a new position in GE Vernova during the fourth quarter valued at about $219,187,000. Arrowstreet Capital Limited Partnership grew its holdings in GE Vernova by 555.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock worth $187,404,000 after acquiring an additional 482,787 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after acquiring an additional 456,879 shares in the last quarter.

GE Vernova Stock Up 3.4 %

GEV opened at $315.55 on Wednesday. The stock’s 50 day moving average price is $341.74 and its two-hundred day moving average price is $324.60. The firm has a market capitalization of $87.06 billion and a P/E ratio of 56.75. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50.

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

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEV. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Royal Bank of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Baird R W raised GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. Seven research 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. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $349.54.

GE Vernova 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.