GE Vernova Inc. (NYSE:GEV) Shares Purchased by Patten & Patten Inc. TN

Patten & Patten Inc. TN boosted its position in GE Vernova Inc. (NYSE:GEV) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,862 shares of the company’s stock after purchasing an additional 211 shares during the period. Patten & Patten Inc. TN’s holdings in GE Vernova were worth $1,270,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. Howard Capital Management Group LLC acquired a new stake in GE Vernova in the third quarter worth approximately $213,000. Atria Investments Inc lifted its position in shares of GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of GE Vernova during the 3rd quarter valued at $758,000. Oppenheimer & Co. Inc. lifted its position in shares of GE Vernova by 3.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,457 shares of the company’s stock valued at $1,646,000 after acquiring an additional 200 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of GE Vernova by 13.7% during the 3rd quarter. KBC Group NV now owns 37,126 shares of the company’s stock valued at $9,466,000 after acquiring an additional 4,460 shares during the last quarter.

GE Vernova Price Performance

GEV stock opened at $313.76 on Monday. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The company has a 50-day moving average of $355.75 and a two-hundred day moving average of $314.43. The stock has a market capitalization of $86.57 billion and a price-to-earnings ratio of 56.43.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 the consensus estimate of $10.70 billion. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a share buyback plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wolfe Research assumed coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Barclays cut their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. Evercore ISI increased their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Bank of America increased their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. 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. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $349.02.

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.