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

Crowley Wealth Management Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 143 shares of the company’s stock, valued at approximately $47,000.

Several other large investors have also made changes to their positions in GEV. Howard Capital Management Group LLC acquired a new position in shares of GE Vernova during the third quarter valued at $213,000. Thrivent Financial for Lutherans lifted its stake in GE Vernova by 24.0% in the third quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock valued at $4,311,000 after buying an additional 3,274 shares during the period. Jennison Associates LLC lifted its stake in GE Vernova by 20.2% in the third quarter. Jennison Associates LLC now owns 10,298 shares of the company’s stock valued at $2,626,000 after buying an additional 1,733 shares during the period. Meridian Wealth Management LLC lifted its stake in GE Vernova by 7.6% in the third quarter. Meridian Wealth Management LLC now owns 3,127 shares of the company’s stock valued at $797,000 after buying an additional 222 shares during the period. Finally, Nicolet Advisory Services LLC acquired a new position in GE Vernova in the third quarter valued at about $251,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group increased their price target on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a report on Wednesday, March 5th. Citigroup increased their price target on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Stock Down 0.8 %

GEV opened at $334.21 on Monday. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The stock has a market cap of $92.21 billion and a price-to-earnings ratio of 60.11. The business has a 50 day moving average of $352.15 and a 200-day moving average of $319.15.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during 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%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has authorized a stock buyback program 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 programs are generally an indication that the company’s management believes its stock is undervalued.

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.