Virtu Financial LLC Buys 3,249 Shares of GE Vernova Inc. (NYSE:GEV)

Virtu Financial LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 55.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,058 shares of the company’s stock after buying an additional 3,249 shares during the quarter. Virtu Financial LLC’s holdings in GE Vernova were worth $2,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% during the fourth 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 acquired a new position in shares of GE Vernova during the fourth quarter worth $25,000. Fairway Wealth LLC lifted its holdings in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC lifted its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of 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 purchasing an additional 77 shares during the period.

GE Vernova Price Performance

NYSE:GEV opened at $334.21 on Friday. The firm has a 50-day moving average of $352.15 and a 200-day moving average of $318.32. The company has a market cap of $92.21 billion and a PE ratio of 60.11. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last posted its 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 business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GEV. TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. BMO Capital Markets dropped their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Evercore ISI boosted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

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.