1620 Investment Advisors Inc. Has $29,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

1620 Investment Advisors Inc. cut its position in GE Vernova Inc. (NYSE:GEV) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87 shares of the company’s stock after selling 39 shares during the period. 1620 Investment Advisors Inc.’s holdings in GE Vernova were worth $29,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during 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 during the last quarter. MRP Capital Investments LLC acquired a new position in GE Vernova during the 4th quarter valued at about $25,000. Fairway Wealth LLC boosted its stake in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its stake in 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 purchasing an additional 69 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in GE Vernova during the 3rd quarter valued at about $31,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada cut their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday. Johnson Rice initiated coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Bank of America lifted their target price on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Citigroup lifted their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Stock Down 0.8 %

NYSE:GEV opened at $334.21 on Friday. The firm’s fifty day simple moving average is $352.15 and its 200 day simple moving average is $317.44. The stock has a market cap of $92.21 billion and a P/E ratio of 60.11. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.