Orion Portfolio Solutions LLC Buys 1,203 Shares of GE Vernova Inc. (NYSE:GEV)

Orion Portfolio Solutions LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,752 shares of the company’s stock after buying an additional 1,203 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in GE Vernova were worth $3,208,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Howard Capital Management Group LLC acquired a new position in shares of GE Vernova in the third quarter worth approximately $213,000. Townsquare Capital LLC boosted its stake in shares of GE Vernova by 16.0% in the 3rd quarter. Townsquare Capital LLC now owns 4,622 shares of the company’s stock valued at $1,179,000 after purchasing an additional 638 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of GE Vernova by 30.5% during the third quarter. CreativeOne Wealth LLC now owns 2,161 shares of the company’s stock worth $551,000 after buying an additional 505 shares during the period. Public Sector Pension Investment Board raised its stake in GE Vernova by 15.2% during the third quarter. Public Sector Pension Investment Board now owns 12,096 shares of the company’s stock worth $3,084,000 after buying an additional 1,600 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in GE Vernova by 10.2% in the third quarter. Hantz Financial Services Inc. now owns 857 shares of the company’s stock valued at $219,000 after buying an additional 79 shares during the period.

GE Vernova Trading Up 1.0 %

Shares of GE Vernova stock opened at $305.92 on Tuesday. The business’s fifty day simple moving average is $343.76 and its 200 day simple moving average is $323.97. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The firm has a market capitalization of $84.40 billion and a P/E ratio of 55.02.

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

GE Vernova declared that its board has authorized a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Barclays lowered their price objective on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. 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. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Truist Financial lifted their price target 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. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $349.54.

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.