Prudential PLC Acquires 910 Shares of GE Vernova Inc. (NYSE:GEV)

Prudential PLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 24.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,637 shares of the company’s stock after acquiring an additional 910 shares during the period. Prudential PLC’s holdings in GE Vernova were worth $1,525,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Cedar Mountain Advisors LLC boosted its stake in 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 purchasing an additional 39 shares during the period. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC grew 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 acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its stake in 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 purchasing an additional 77 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GEV. Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. New Street Research set a $380.00 target price on GE Vernova in a research note on Wednesday, March 5th. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. Citigroup upped their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Truist Financial set a $440.00 target price on shares of GE Vernova in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $349.20.

GE Vernova Stock Down 8.8 %

NYSE:GEV opened at $271.40 on Monday. The firm’s fifty day simple moving average is $334.07 and its 200 day simple moving average is $325.98. The stock has a market cap of $74.19 billion and a P/E ratio of 48.81. GE Vernova Inc. has a twelve month low of $125.86 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 analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, 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 plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.