Ironwood Investment Management LLC Makes New $212,000 Investment in GE Vernova Inc. (NYSE:GEV)

Ironwood Investment Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 643 shares of the company’s stock, valued at approximately $212,000.

Other large investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $206,000. Atria Investments Inc raised its stake in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,847 shares in the last quarter. GPS Wealth Strategies Group LLC raised its stake in shares of GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares in the last quarter. Yarbrough Capital LLC raised its stake in shares of GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Legacy Bridge LLC raised its stake in shares of GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after purchasing an additional 4,776 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent research reports. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Barclays lowered their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, New Street Research set a $380.00 price target on GE Vernova 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. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Trading Up 4.5 %

NYSE:GEV opened at $313.76 on Friday. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The business’s 50-day moving average price is $355.75 and its two-hundred day moving average price is $312.63. The firm has a market capitalization of $86.57 billion and a price-to-earnings ratio of 56.43.

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

GE Vernova announced that its board has approved a share 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors 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.