Optimum Investment Advisors Acquires 160 Shares of GE Vernova Inc. (NYSE:GEV)

Optimum Investment Advisors raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 13.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,347 shares of the company’s stock after acquiring an additional 160 shares during the period. Optimum Investment Advisors’ holdings in GE Vernova were worth $443,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC raised 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 buying an additional 39 shares during the last quarter. Fairway Wealth LLC raised 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 buying an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its holdings in shares of 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 buying an additional 69 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of GE Vernova in the 4th quarter worth $35,000.

GE Vernova Trading Down 0.8 %

Shares of NYSE GEV opened at $334.21 on Friday. The stock has a market capitalization of $92.21 billion and a price-to-earnings ratio of 60.11. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The firm’s 50-day moving average price is $352.15 and its 200-day moving average price is $318.32.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 company had revenue of $10.56 billion during 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, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated 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 generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

GEV has been the subject of a number of research reports. TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. New Street Research set a $380.00 price objective on shares of GE Vernova in a report on Wednesday, March 5th. Truist Financial upped their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets decreased their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Seven 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 stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $348.72.

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.