758 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 758 shares of the company’s stock, valued at approximately $249,000.

Other large investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. grew its position in shares of GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC grew its position in shares of GE Vernova by 2.4% in the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC grew its position in shares of GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position in shares of GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after purchasing an additional 31 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird assumed coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. 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. Wolfe Research assumed coverage on GE Vernova in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. 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. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Trading Up 4.5 %

NYSE:GEV opened at $313.76 on Friday. The firm has a market cap of $86.57 billion and a PE ratio of 56.43. The stock has a fifty day moving average price of $355.75 and a 200 day moving average price of $312.63. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50.

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

GE Vernova announced that its Board of Directors has initiated a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.