Sage Mountain Advisors LLC Buys 60 Shares of GE Vernova Inc. (NYSE:GEV)

Sage Mountain Advisors LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,639 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Sage Mountain Advisors LLC’s holdings in GE Vernova were worth $539,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC grew its holdings 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 in the last quarter. Pineridge Advisors LLC boosted its position 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 acquiring an additional 69 shares during the last quarter. Asset Planning Inc purchased a new position in shares of GE Vernova in the fourth quarter valued at $35,000. Riggs Asset Managment Co. Inc. increased its position in GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares during the last quarter. Finally, Covestor Ltd raised its stake in GE Vernova by 61.3% during the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. BMO Capital Markets dropped their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Jefferies Financial Group boosted their price objective on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Price Performance

GEV opened at $283.52 on Wednesday. The firm has a market capitalization of $78.22 billion and a PE ratio of 50.99. The business’s 50-day moving average is $357.93 and its two-hundred day moving average is $311.88. GE Vernova Inc. has a 1 year low of $115.00 and a 1 year 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 analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

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