CoreFirst Bank & Trust Purchases Shares of 556 GE Vernova Inc. (NYSE:GEV)

CoreFirst Bank & Trust purchased a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 556 shares of the company’s stock, valued at approximately $183,000.

Other hedge funds have also recently modified their holdings of the company. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $25,000. Cedar Mountain Advisors LLC raised its position in GE Vernova by 102.6% during the 4th 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 last quarter. Fairway Wealth LLC lifted its holdings in 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 buying an additional 55 shares during the period. Pineridge Advisors LLC increased its stake in shares of 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 buying an additional 69 shares during the period. Finally, Asset Planning Inc bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $35,000.

GE Vernova Stock Up 3.0 %

Shares of GEV opened at $343.98 on Tuesday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a market capitalization of $94.91 billion and a P/E ratio of 61.87. The firm has a 50 day moving average of $351.71 and a 200 day moving average of $320.18.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during 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 for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has authorized a share buyback program 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. Evercore ISI lifted their price target 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. Barclays cut their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. CICC Research initiated coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Truist Financial upped their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average 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.