Wealthfront Advisers LLC Acquires 15,037 Shares of GE Vernova Inc. (NYSE:GEV)

Wealthfront Advisers LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 68.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,028 shares of the company’s stock after acquiring an additional 15,037 shares during the quarter. Wealthfront Advisers LLC’s holdings in GE Vernova were worth $12,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC increased its stake in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Covestor Ltd increased its stake in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $31,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GEV. Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. New Street Research set a $380.00 price target on GE Vernova in a research note on Wednesday, March 5th. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective for the company in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Trading Up 5.0 %

GEV 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 fifty day simple moving average of $357.93 and a two-hundred day simple moving average of $311.88. The company has a market cap of $78.22 billion and a price-to-earnings ratio of 50.99.

GE Vernova (NYSE:GEV) last issued its earnings results 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). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are 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.