Sequoia Financial Advisors LLC Purchases 1,160 Shares of GE Vernova Inc. (NYSE:GEV)

Sequoia Financial Advisors LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,868 shares of the company’s stock after buying an additional 1,160 shares during the period. Sequoia Financial Advisors LLC’s holdings in GE Vernova were worth $7,193,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the period. Fairway Wealth LLC increased its position in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC increased its position in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Covestor Ltd increased its position in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of GE Vernova in the third quarter worth $31,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GEV shares. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target on the stock. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Bank of America raised their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Price Performance

Shares of GEV opened at $298.72 on Thursday. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year high of $447.50. The company has a market capitalization of $82.42 billion and a price-to-earnings ratio of 53.73. The business has a 50-day moving average of $357.33 and a 200-day moving average of $311.79.

GE Vernova (NYSE:GEV) last issued 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has initiated 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 purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

About GE Vernova

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.