Truepoint Inc. Takes $289,000 Position in GE Vernova Inc. (NYSE:GEV)

Truepoint Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 880 shares of the company’s stock, valued at approximately $289,000.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its holdings in GE Vernova by 0.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 8,480 shares of the company’s stock valued at $2,789,000 after acquiring an additional 45 shares during the last quarter. Holderness Investments Co. lifted its stake in shares of GE Vernova by 3.8% in the 4th quarter. Holderness Investments Co. now owns 999 shares of the company’s stock valued at $329,000 after purchasing an additional 37 shares in the last quarter. HUB Investment Partners LLC lifted its stake in shares of GE Vernova by 3.3% in the 4th quarter. HUB Investment Partners LLC now owns 1,711 shares of the company’s stock valued at $563,000 after purchasing an additional 55 shares in the last quarter. Settian Capital LP purchased a new stake in shares of GE Vernova during the 4th quarter worth about $1,645,000. Finally, Strategic Financial Services Inc. increased its position in GE Vernova by 3.7% during the 4th quarter. Strategic Financial Services Inc. now owns 1,110 shares of the company’s stock worth $365,000 after purchasing an additional 40 shares in the last quarter.

GE Vernova Stock Up 0.2 %

NYSE:GEV opened at $336.46 on Friday. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The company has a market cap of $92.83 billion and a PE ratio of 60.51. The business’s 50 day moving average is $352.82 and its two-hundred day moving average is $316.52.

GE Vernova (NYSE:GEV) last posted its quarterly 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a stock buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Cowen started coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Seven 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.