Saturna Capital Corp Purchases Shares of 756 GE Vernova Inc. (NYSE:GEV)

Saturna Capital Corp purchased a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 756 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors have also added to or reduced their stakes in GEV. Waverton Investment Management Ltd increased its holdings in GE Vernova by 10.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after acquiring an additional 66,455 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $206,000. Atria Investments Inc lifted its position in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after buying an additional 2,847 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after buying an additional 822 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in GE Vernova by 1,280.4% during the 3rd quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock valued at $1,961,000 after buying an additional 7,132 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently issued reports on GEV shares. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. Truist Financial boosted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Barclays lowered their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Johnson Rice initiated coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Stock Up 5.0 %

Shares of NYSE:GEV opened at $283.52 on Wednesday. The business’s 50 day moving average is $357.93 and its 200 day moving average is $311.88. The stock has a market cap of $78.22 billion and a P/E ratio of 50.99. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 net margin of 4.44% and a return on equity of 6.70%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has approved a stock buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits 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 believes its stock is undervalued.

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.