PKS Advisory Services LLC Invests $280,000 in GE Vernova Inc. (NYSE:GEV)

PKS Advisory Services LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 850 shares of the company’s stock, valued at approximately $280,000.

Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted 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 buying an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth about $25,000. Fairway Wealth LLC boosted 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 grew its stake in shares of GE Vernova by 530.8% in 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 last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $335.93 on Wednesday. The company has a 50-day simple moving average of $350.80 and a two-hundred day simple moving average of $321.14. The stock has a market capitalization of $92.68 billion and a PE ratio of 60.42. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly 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). The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Robert W. Baird began coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average 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.