Rockbridge Investment Management LCC Acquires Shares of 771 GE Vernova Inc. (NYSE:GEV)

Rockbridge Investment Management LCC bought a new position in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 771 shares of the company’s stock, valued at approximately $254,000.

Other hedge funds also recently made changes to their positions in the company. Cedar Mountain Advisors LLC lifted its position 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. MRP Capital Investments LLC purchased a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC lifted its holdings in shares of GE Vernova by 220.0% in the 4th 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 boosted its stake 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 buying an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares during the period.

Analyst Ratings Changes

Several brokerages recently commented on GEV. Truist Financial raised their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Citigroup lifted their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Price Performance

Shares of NYSE GEV opened at $317.47 on Thursday. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The company has a market capitalization of $87.59 billion and a price-to-earnings ratio of 57.10. The business has a 50-day moving average of $349.42 and a 200-day moving average of $321.12.

GE Vernova (NYSE:GEV) last released its quarterly earnings results 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). The company 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 business’s revenue was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.