Independent Advisor Alliance Purchases 3,237 Shares of GE Vernova Inc. (NYSE:GEV)

Independent Advisor Alliance grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 63.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,312 shares of the company’s stock after acquiring an additional 3,237 shares during the quarter. Independent Advisor Alliance’s holdings in GE Vernova were worth $2,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cedar Mountain Advisors LLC increased its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the last quarter. Covestor Ltd boosted its position in shares of 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 buying an additional 46 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova during the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC boosted its position in shares of GE Vernova by 175.0% during the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on GEV shares. Evercore ISI lifted their target price on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Robert W. Baird began coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Finally, New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Seven investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Stock Up 5.1 %

Shares of NYSE GEV opened at $298.72 on Thursday. The firm has a market capitalization of $82.42 billion and a P/E ratio of 53.73. The stock’s 50-day simple moving average is $357.33 and its two-hundred day simple moving average is $311.79. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last announced its earnings results 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 business had revenue of $10.56 billion during 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, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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.