Evoke Wealth LLC Makes New $280,000 Investment in GE Vernova Inc. (NYSE:GEV)

Evoke Wealth LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 850 shares of the company’s stock, valued at approximately $280,000.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. Cedar Mountain Advisors LLC lifted its holdings in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares in the last quarter. Fairway Wealth LLC increased its position in shares of 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 purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its position in shares of 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 purchasing an additional 69 shares during the last quarter. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC increased its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. New Street Research set a $380.00 target price on shares of GE Vernova in a research report on Wednesday, March 5th. TD Cowen initiated coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Evercore ISI boosted their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays lowered their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Seven research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Trading Up 5.2 %

Shares of NYSE:GEV opened at $335.38 on Thursday. The company has a 50 day moving average of $353.42 and a 200-day moving average of $316.38. The firm has a market cap of $92.53 billion and a P/E ratio of 60.32. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results 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 company had revenue of $10.56 billion during 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 quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has authorized a share repurchase program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

GE Vernova 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.