Sage Mountain Advisors LLC Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Sage Mountain Advisors LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,639 shares of the company’s stock after acquiring an additional 60 shares during the period. Sage Mountain Advisors LLC’s holdings in GE Vernova were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Cedar Mountain Advisors LLC lifted its holdings in shares of GE Vernova by 102.6% during 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 last quarter. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares in the last quarter. Covestor Ltd increased its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in GE Vernova during the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 77 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets reduced their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. New Street Research set a $380.00 target price on shares of GE Vernova in a research note on Wednesday, March 5th. Evercore ISI increased 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Stock Performance

GEV opened at $283.52 on Wednesday. The stock has a market cap of $78.22 billion and a price-to-earnings ratio of 50.99. The firm’s fifty day moving average is $357.93 and its 200 day moving average is $311.88. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50.

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

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

GE Vernova 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.