GE Vernova Inc. (NYSE:GEV) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 31.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,745 shares of the company’s stock after purchasing an additional 414 shares during the quarter. Modern Wealth Management LLC’s holdings in GE Vernova were worth $574,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC lifted its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC acquired a new stake in shares of GE Vernova in the fourth quarter worth $25,000. Fairway Wealth LLC raised its stake in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC lifted its holdings in shares of 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 acquiring an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the period.

GE Vernova Stock Performance

GE Vernova stock opened at $317.47 on Thursday. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The firm’s 50-day moving average is $349.42 and its 200-day moving average is $321.12. The company has a market cap of $87.59 billion and a P/E ratio of 57.10.

GE Vernova (NYSE:GEV) last issued its earnings results 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have commented on GEV. The Goldman Sachs Group raised their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Robert W. Baird started coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price on the stock. Truist Financial upped their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Seven investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $348.72.

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.