Financial Engines Advisors L.L.C. Invests $504,000 in GE Vernova Inc. (NYSE:GEV)

Financial Engines Advisors L.L.C. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, Holdings Channel reports. The fund purchased 1,531 shares of the company’s stock, valued at approximately $504,000.

Other large investors have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Raymond James Financial Inc. bought a new position in GE Vernova in the 4th quarter valued at $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in GE Vernova by 34.1% in 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 in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after purchasing an additional 456,879 shares during the last quarter. Finally, Castle Hook Partners LP increased its stake in shares of 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 in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup lifted their target price on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Truist Financial raised their target price on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, CICC Research started coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an “outperform” rating for the company. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Price Performance

GEV stock opened at $303.10 on Friday. The business has a 50-day moving average of $347.66 and a 200-day moving average of $320.99. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The stock has a market capitalization of $83.63 billion and a P/E ratio of 54.51.

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

GE Vernova declared that its board has approved a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is 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.