Essential Planning LLC. Takes Position in GE Vernova Inc. (NYSE:GEV)

Essential Planning LLC. bought a new stake in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,919 shares of the company’s stock, valued at approximately $2,156,000.

A number of other large investors have also modified their holdings of GEV. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC grew its stake in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd grew its stake in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova during the 3rd quarter valued at approximately $31,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Jefferies Financial Group raised their price objective on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $298.72 on Thursday. The business’s fifty day moving average price is $357.33 and its two-hundred day moving average price is $311.79. The company has a market capitalization of $82.42 billion and a P/E ratio of 53.73. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50.

GE Vernova (NYSE:GEV) last announced its 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are 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.