GE Vernova Inc. (NYSE:GEV) Shares Acquired by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV grew its stake in GE Vernova Inc. (NYSE:GEV) by 93.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 560 shares of the company’s stock after purchasing an additional 271 shares during the period. Creative Financial Designs Inc. ADV’s holdings in GE Vernova were worth $184,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in GE Vernova during the fourth quarter worth about $206,000. GPS Wealth Strategies Group LLC raised its stake in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after acquiring an additional 822 shares during the period. Yarbrough Capital LLC raised its stake in GE Vernova by 67.2% during the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after acquiring an additional 1,160 shares during the period. Legacy Bridge LLC raised its stake in GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after acquiring an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co raised its stake in GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after acquiring an additional 1,408 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GEV. Truist Financial increased their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI increased their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Johnson Rice began coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $335.38 on Thursday. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The company has a market cap of $92.53 billion and a PE ratio of 60.32. The firm has a 50 day simple moving average of $353.42 and a 200 day simple moving average of $316.38.

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

GE Vernova declared that its Board of Directors has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally 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.