GE Vernova Inc. (NYSE:GEV) Shares Purchased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 3.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,023 shares of the company’s stock after buying an additional 38 shares during the period. Nicolet Advisory Services LLC’s holdings in GE Vernova were worth $336,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Cedar Mountain Advisors LLC grew its position in shares of GE Vernova by 102.6% in the fourth 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 purchased a new stake in GE Vernova in the 4th quarter valued at $25,000. Fairway Wealth LLC grew its holdings in 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 buying an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its stake in shares of GE Vernova by 530.8% in 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 last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of 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 acquiring an additional 77 shares during the period.

GE Vernova Stock Down 8.8 %

Shares of NYSE GEV opened at $271.40 on Friday. The business has a 50-day moving average price of $334.07 and a 200 day moving average price of $324.74. The stock has a market cap of $74.19 billion and a PE ratio of 48.81. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last announced 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial set a $440.00 price objective on GE Vernova in a research report on Thursday, March 27th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research note on Wednesday, March 5th. CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. Barclays reduced their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, Bank of America boosted their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $349.20.

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.