GE Vernova Inc. (NYSE:GEV) Shares Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 16.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,058 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in GE Vernova were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the 3rd quarter worth $2,507,296,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova in the 4th quarter worth $219,187,000. FMR LLC boosted its position in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of GE Vernova by 34.1% in the 3rd 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. Finally, Assenagon Asset Management S.A. raised its stake in GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after acquiring an additional 456,879 shares during the last quarter.

GE Vernova Trading Up 5.0 %

GEV stock opened at $283.52 on Wednesday. GE Vernova Inc. has a 12-month low of $115.00 and a 12-month high of $447.50. The stock has a market cap of $78.22 billion and a price-to-earnings ratio of 50.99. The business’s 50-day moving average is $357.93 and its 200 day moving average is $311.88.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (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 firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial raised their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Robert W. Baird assumed coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. Finally, Wolfe Research assumed coverage on GE Vernova in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova 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.