Orion Portfolio Solutions LLC Acquires 1,203 Shares of GE Vernova Inc. (NYSE:GEV)

Orion Portfolio Solutions LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,752 shares of the company’s stock after acquiring an additional 1,203 shares during the period. Orion Portfolio Solutions LLC’s holdings in GE Vernova were worth $3,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA raised its position in shares of GE Vernova by 9.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 144,343 shares of the company’s stock valued at $47,479,000 after purchasing an additional 12,187 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in GE Vernova by 87.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 149,167 shares of the company’s stock valued at $49,066,000 after buying an additional 69,735 shares during the last quarter. New Age Alpha Advisors LLC raised its holdings in GE Vernova by 5,100.0% in the 4th quarter. New Age Alpha Advisors LLC now owns 10,000 shares of the company’s stock valued at $3,289,000 after acquiring an additional 10,200 shares during the period. Providence Capital Advisors LLC lifted its position in GE Vernova by 4.4% during the fourth quarter. Providence Capital Advisors LLC now owns 884 shares of the company’s stock worth $291,000 after acquiring an additional 37 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of GE Vernova during the fourth quarter worth approximately $1,109,720,000.

GE Vernova Stock Performance

NYSE GEV opened at $305.92 on Tuesday. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The stock has a market cap of $84.40 billion and a PE ratio of 55.02. The firm’s fifty day moving average price is $343.76 and its two-hundred day moving average price is $323.97.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has approved a stock repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GEV shares. Jefferies Financial Group increased their target price on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. The Goldman Sachs Group lifted 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. Truist Financial boosted their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wolfe Research assumed coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average 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.