GE Vernova Inc. (NYSE:GEV) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,376 shares of the company’s stock after acquiring an additional 7,971 shares during the quarter. Commonwealth Equity Services LLC’s holdings in GE Vernova were worth $31,701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HBK Sorce Advisory LLC increased its stake in GE Vernova by 1.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 3,784 shares of the company’s stock worth $1,245,000 after acquiring an additional 71 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in GE Vernova by 2.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,106 shares of the company’s stock worth $1,022,000 after acquiring an additional 81 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in GE Vernova by 2.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,433 shares of the company’s stock worth $2,445,000 after acquiring an additional 153 shares during the last quarter. Essential Planning LLC. purchased a new stake in shares of GE Vernova in the fourth quarter worth about $2,156,000. Finally, Kayne Anderson Capital Advisors LP boosted its position in shares of GE Vernova by 7.2% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 26,270 shares of the company’s stock worth $8,641,000 after buying an additional 1,767 shares during the period.

GE Vernova Trading Up 4.5 %

Shares of GE Vernova stock opened at $313.76 on Friday. The business’s 50 day simple moving average is $355.75 and its 200-day simple moving average is $313.51. The stock has a market capitalization of $86.57 billion and a price-to-earnings ratio of 56.43. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has approved a stock 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 often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Bank of America upped their target price 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, Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Seven 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $349.02.

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.