Dopkins Wealth Management LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Dopkins Wealth Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 637 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC raised its stake in GE Vernova by 111.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 4,036 shares of the company’s stock worth $1,328,000 after purchasing an additional 2,123 shares during the period. Flagship Wealth Advisors LLC purchased a new position in shares of GE Vernova in the 4th quarter worth $122,000. Signaturefd LLC raised its position in shares of GE Vernova by 68.8% in the 4th quarter. Signaturefd LLC now owns 8,168 shares of the company’s stock worth $2,687,000 after buying an additional 3,328 shares during the period. Parallel Advisors LLC boosted its holdings in GE Vernova by 12.8% in the fourth quarter. Parallel Advisors LLC now owns 6,442 shares of the company’s stock valued at $2,119,000 after acquiring an additional 729 shares during the last quarter. Finally, Cibc World Markets Corp grew its position in GE Vernova by 425.1% during the fourth quarter. Cibc World Markets Corp now owns 195,650 shares of the company’s stock valued at $64,355,000 after acquiring an additional 158,389 shares during the period.

GE Vernova Stock Up 6.0 %

Shares of NYSE GEV opened at $332.33 on Tuesday. The stock’s 50 day moving average price is $354.99 and its two-hundred day moving average price is $315.42. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock has a market capitalization of $91.69 billion and a P/E ratio of 59.77.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 analyst estimates 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% on a year-over-year basis. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

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

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research reports. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. Truist Financial raised their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Seven equities research 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.