GE Vernova Inc. (NYSE:GEV) Stake Boosted by PFG Advisors

PFG Advisors increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 15.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,960 shares of the company’s stock after purchasing an additional 387 shares during the period. PFG Advisors’ holdings in GE Vernova were worth $974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GEV. Summit X LLC bought a new stake in GE Vernova in the fourth quarter valued at $266,000. Glaxis Capital Management LLC bought a new stake in GE Vernova in the fourth quarter valued at $658,000. DSC Meridian Capital LP lifted its stake in GE Vernova by 33.2% in the fourth quarter. DSC Meridian Capital LP now owns 2,328 shares of the company’s stock valued at $766,000 after buying an additional 580 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in GE Vernova by 68.4% in the fourth quarter. Wealthfront Advisers LLC now owns 37,028 shares of the company’s stock valued at $12,180,000 after buying an additional 15,037 shares during the last quarter. Finally, Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $300.27 on Friday. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The stock’s 50-day moving average is $356.55 and its two-hundred day moving average is $311.71. The stock has a market cap of $82.84 billion and a PE ratio of 54.00.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GEV shares. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Barclays cut their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Evercore ISI lifted their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Guggenheim upgraded 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 note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.