Cyrus J. Lawrence LLC Purchases Shares of 17,009 GE Vernova Inc. (NYSE:GEV)

Cyrus J. Lawrence LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,009 shares of the company’s stock, valued at approximately $5,594,000.

Other hedge funds have also recently bought and sold shares of the company. MRP Capital Investments LLC bought a new position in GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC boosted its stake in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the period. Fairway Wealth LLC boosted its stake in shares of GE Vernova by 220.0% during 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 period. Pineridge Advisors LLC boosted its stake in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the period. Finally, Asset Planning Inc bought a new position in shares of GE Vernova during the 4th quarter worth approximately $35,000.

GE Vernova Stock Performance

GEV stock opened at $334.21 on Friday. The stock’s 50 day simple moving average is $352.15 and its 200 day simple moving average is $317.44. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The company has a market cap of $92.21 billion and a P/E ratio of 60.11.

GE Vernova (NYSE:GEV) last issued 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). The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations 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 was up 5.1% compared to the same quarter last year. Equities 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 approved a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 target price for the company. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a research note on Wednesday, March 5th. Royal Bank of Canada reduced their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, TD Cowen initiated coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

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.