Patten & Patten Inc. TN Buys 211 Shares of GE Vernova Inc. (NYSE:GEV)

Patten & Patten Inc. TN lifted its stake in GE Vernova Inc. (NYSE:GEV) by 5.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,862 shares of the company’s stock after acquiring an additional 211 shares during the period. Patten & Patten Inc. TN’s holdings in GE Vernova were worth $1,270,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC lifted its stake in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC lifted its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the period. Asset Planning Inc bought a new position in GE Vernova during the fourth quarter worth about $35,000. Finally, Riggs Asset Managment Co. Inc. lifted its stake in GE Vernova by 93.4% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock worth $39,000 after purchasing an additional 57 shares during the period.

Analyst Ratings Changes

GEV has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a research note on Wednesday, March 5th. Wells Fargo & Company raised their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group raised their price objective on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Stock Performance

Shares of GEV stock opened at $313.76 on Monday. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock has a market cap of $86.57 billion and a PE ratio of 56.43. The firm’s 50 day moving average price is $355.75 and its two-hundred day moving average price is $314.43.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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). The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% compared to the same quarter last year. 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 declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.