Farther Finance Advisors LLC Has $1.20 Million Position in GE Vernova Inc. (NYSE:GEV)

Farther Finance Advisors LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 3.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,640 shares of the company’s stock after purchasing an additional 119 shares during the quarter. Farther Finance Advisors LLC’s holdings in GE Vernova were worth $1,197,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC acquired a new stake in 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 worth approximately $219,187,000. FMR LLC increased its position in 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 buying an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 buying an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. increased its position 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 buying an additional 456,879 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEV. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target on the stock. Johnson Rice initiated coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Finally, Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Seven research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $300.27 on Friday. The business’s 50 day simple moving average is $356.55 and its 200 day simple moving average is $311.71. GE Vernova Inc. has a 52-week low of $115.00 and a 52-week high of $447.50. The firm has a market cap of $82.84 billion and a PE ratio of 54.00.

GE Vernova (NYSE:GEV) last posted its quarterly 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). The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has authorized a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally 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.