GE Vernova Inc. (NYSE:GEV) Stock Position Lifted by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 66.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202 shares of the company’s stock after buying an additional 81 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in GE Vernova were worth $66,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GEV. TIAA Trust National Association raised its holdings in shares of GE Vernova by 9.5% during the fourth quarter. TIAA Trust National Association now owns 10,735 shares of the company’s stock worth $3,531,000 after acquiring an additional 934 shares in the last quarter. Princeton Capital Management LLC increased its position in GE Vernova by 1.7% in the 4th quarter. Princeton Capital Management LLC now owns 9,149 shares of the company’s stock worth $3,009,000 after purchasing an additional 149 shares during the last quarter. Modern Wealth Management LLC raised its stake in shares of GE Vernova by 31.1% during the 4th quarter. Modern Wealth Management LLC now owns 1,745 shares of the company’s stock worth $574,000 after purchasing an additional 414 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of GE Vernova during the 4th quarter valued at about $238,000. Finally, Taikang Asset Management Hong Kong Co Ltd acquired a new stake in shares of GE Vernova during the 4th quarter valued at about $2,006,000.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada cut their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Truist Financial lifted their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Johnson Rice began coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. Finally, Bank of America boosted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Stock Performance

NYSE GEV opened at $335.93 on Wednesday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The stock has a market cap of $92.68 billion and a PE ratio of 60.42. The firm has a 50-day simple moving average of $350.80 and a 200 day simple moving average of $321.14.

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

GE Vernova announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is 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.