Financial Engines Advisors L.L.C. Takes Position in GE Vernova Inc. (NYSE:GEV)

Financial Engines Advisors L.L.C. purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,531 shares of the company’s stock, valued at approximately $504,000.

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

GE Vernova Price Performance

Shares of GEV stock opened at $303.10 on Friday. The stock has a market cap of $83.63 billion and a P/E ratio of 54.51. The stock has a fifty day moving average price of $347.66 and a 200 day moving average price of $320.99. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business 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 firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its board has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial upped their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Citigroup upped their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group increased their target price on shares of GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a research report on Thursday. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $349.54.

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.