Johnson Investment Counsel Inc. Grows Stake in GE Vernova Inc. (NYSE:GEV)

Johnson Investment Counsel Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,905 shares of the company’s stock after acquiring an additional 1,263 shares during the period. Johnson Investment Counsel Inc.’s holdings in GE Vernova were worth $6,219,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew 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 acquiring an additional 39 shares in the last quarter. Pineridge Advisors LLC lifted its holdings 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. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter worth approximately $31,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of GE Vernova by 175.0% in 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 last quarter.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent analyst reports. CICC Research initiated coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. TD Cowen initiated coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Evercore ISI upped their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Citigroup increased their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $269.89 on Tuesday. 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 $74.46 billion and a P/E ratio of 48.54. The company’s fifty day moving average is $358.84 and its two-hundred day moving average is $311.18.

GE Vernova (NYSE:GEV) last released 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect 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 buyback program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

GE Vernova Company 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.