Congress Wealth Management LLC DE Purchases 642 Shares of GE Vernova Inc. (NYSE:GEV)

Congress Wealth Management LLC DE boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 32.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,608 shares of the company’s stock after purchasing an additional 642 shares during the quarter. Congress Wealth Management LLC DE’s holdings in GE Vernova were worth $858,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mountaineer Partners Management LLC bought a new stake in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova during the fourth quarter worth $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after purchasing an additional 460,834 shares during the period. Assenagon Asset Management S.A. increased its holdings in GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after purchasing an additional 456,879 shares during the last quarter. Finally, Castle Hook Partners LP lifted its stake in GE Vernova by 39.3% in the third quarter. Castle Hook Partners LP now owns 1,050,806 shares of the company’s stock valued at $267,935,000 after buying an additional 296,464 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GEV shares. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Citigroup lifted their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. TD Cowen assumed coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Performance

Shares of GEV opened at $303.10 on Friday. The firm has a market cap of $83.63 billion and a P/E ratio of 54.51. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The firm’s 50-day simple moving average is $347.66 and its 200 day simple moving average is $320.99.

GE Vernova (NYSE:GEV) last posted its 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). The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates 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 for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About GE Vernova

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.