Fairway Wealth LLC Has $26,000 Stake in GE Vernova Inc. (NYSE:GEV)

Fairway Wealth LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 220.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80 shares of the company’s stock after purchasing an additional 55 shares during the period. Fairway Wealth LLC’s holdings in GE Vernova were worth $26,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Waverton Investment Management Ltd increased its holdings in shares of GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after purchasing an additional 66,455 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in GE Vernova in the 4th quarter valued at $206,000. Atria Investments Inc lifted its stake in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares in the last quarter. GPS Wealth Strategies Group LLC raised its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares during the period. Finally, Assetmark Inc. grew its holdings in GE Vernova by 1,280.4% during the 3rd quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock valued at $1,961,000 after buying an additional 7,132 shares in the last quarter.

GE Vernova Trading Up 5.0 %

Shares of GE Vernova stock opened at $283.52 on Wednesday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The firm’s 50-day moving average price is $357.93 and its two-hundred day moving average price is $311.88. The stock has a market capitalization of $78.22 billion and a price-to-earnings ratio of 50.99.

GE Vernova (NYSE:GEV) last posted 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 firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has approved a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wolfe Research started coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. BMO Capital Markets cut their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Truist Financial upped their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Seven research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $349.02.

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.