824 Shares in GE Vernova Inc. (NYSE:GEV) Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, Holdings Channel.com reports. The fund bought 824 shares of the company’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GEV. Howard Capital Management Group LLC bought a new position in GE Vernova during the third quarter worth $213,000. CWA Asset Management Group LLC bought a new position in GE Vernova during the third quarter worth $296,000. SpiderRock Advisors LLC increased its holdings in GE Vernova by 11.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 1,875 shares of the company’s stock valued at $478,000 after buying an additional 199 shares during the period. Assetmark Inc. increased its holdings in GE Vernova by 1,280.4% in the 3rd quarter. Assetmark Inc. now owns 7,689 shares of the company’s stock valued at $1,961,000 after buying an additional 7,132 shares during the period. Finally, Atria Investments Inc increased its holdings in GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after buying an additional 2,847 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Truist Financial boosted their price target 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. Robert W. Baird assumed coverage on shares of GE Vernova in a report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target on the stock in a report on Wednesday, March 5th. Finally, BMO Capital Markets lowered their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Stock Up 5.0 %

Shares of NYSE GEV opened at $283.52 on Wednesday. The firm’s 50-day simple moving average is $357.93 and its 200 day simple moving average is $311.88. The company has a market cap of $78.22 billion and a price-to-earnings ratio of 50.99. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is 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.