GE Vernova Inc. (NYSE:GEV) Shares Sold by Plancorp LLC

Plancorp LLC decreased its stake in GE Vernova Inc. (NYSE:GEV) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 3,133 shares of the company’s stock after selling 350 shares during the quarter. Plancorp LLC’s holdings in GE Vernova were worth $1,031,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GEV. Register Financial Advisors LLC purchased a new position in shares of GE Vernova in the fourth quarter worth about $206,000. GPS Wealth Strategies Group LLC lifted 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 worth $294,000 after buying an additional 822 shares in the last quarter. Yarbrough Capital LLC lifted 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 worth $949,000 after buying an additional 1,160 shares in the last quarter. Legacy Bridge LLC lifted 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 worth $3,612,000 after buying an additional 4,776 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in shares of GE Vernova by 16.6% in the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after buying an additional 1,408 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $334.21 on Friday. The stock has a market capitalization of $92.21 billion and a P/E ratio of 60.11. The company has a 50 day moving average price of $352.15 and a 200 day moving average price of $317.44. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

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

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on GEV shares. Robert W. Baird started coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target on the stock. Evercore ISI raised their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reduced their target price on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday. Barclays reduced their target price on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

About GE Vernova

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.