GE Vernova Inc. (NYSE:GEV) Shares Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,125 shares of the company’s stock after purchasing an additional 109 shares during the quarter. Strategy Asset Managers LLC’s holdings in GE Vernova were worth $370,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in GE Vernova during the fourth quarter worth about $206,000. GPS Wealth Strategies Group LLC grew its holdings in shares of 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 purchasing an additional 822 shares during the last quarter. Yarbrough Capital LLC raised its position in shares of GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after purchasing an additional 1,160 shares during the period. Legacy Bridge LLC raised its position in shares of GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co boosted its position in GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after purchasing an additional 1,408 shares during the period.

GE Vernova Stock Down 0.1 %

GEV opened at $302.71 on Friday. The firm has a market capitalization of $83.52 billion and a P/E ratio of 54.44. The stock has a fifty day moving average of $345.68 and a 200-day moving average of $322.53. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month 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 analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Barclays decreased their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price target on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Truist Financial lifted their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $349.54.

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.