Hoertkorn Richard Charles Decreases Stake in GE Vernova Inc. (NYSE:GEV)

Hoertkorn Richard Charles decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,540 shares of the company’s stock after selling 272 shares during the period. GE Vernova accounts for 2.4% of Hoertkorn Richard Charles’ holdings, making the stock its 14th biggest position. Hoertkorn Richard Charles’ holdings in GE Vernova were worth $5,769,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GEV. Howard Capital Management Group LLC acquired a new position in GE Vernova in the 3rd quarter worth about $213,000. Centaurus Financial Inc. boosted its stake in GE Vernova by 12.0% during the third quarter. Centaurus Financial Inc. now owns 823 shares of the company’s stock worth $210,000 after buying an additional 88 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in GE Vernova during the third quarter worth $545,000. D.A. Davidson & CO. grew its position in GE Vernova by 1.5% in the 3rd quarter. D.A. Davidson & CO. now owns 6,634 shares of the company’s stock valued at $1,692,000 after acquiring an additional 95 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in GE Vernova in the 3rd quarter valued at approximately $1,536,000.

GE Vernova Stock Down 4.6 %

GE Vernova stock opened at $303.10 on Friday. The business has a 50 day moving average price of $347.66 and a two-hundred day moving average price of $320.99. The stock has a market cap of $83.63 billion and a price-to-earnings ratio of 54.51. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last issued 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 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 quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has initiated a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GEV shares. Wolfe Research started coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price on the stock. The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Seven equities research 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 MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

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.