Saturna Capital Corp Invests $249,000 in GE Vernova Inc. (NYSE:GEV)

Saturna Capital Corp purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel reports. The firm purchased 756 shares of the company’s stock, valued at approximately $249,000.

Other hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC grew its position in shares of 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. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its stake in 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. Covestor Ltd grew its position in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter worth $31,000.

GE Vernova Stock Up 5.0 %

GE Vernova stock opened at $283.52 on Wednesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The firm has a market capitalization of $78.22 billion and a PE ratio of 50.99. The firm’s 50-day simple moving average is $357.93 and its 200 day simple moving average is $311.88.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has approved a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GEV. Barclays dropped their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. 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. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Seven 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Company 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.