Millstone Evans Group LLC Takes $422,000 Position in GE Vernova Inc. (NYSE:GEV)

Millstone Evans Group LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,283 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC grew its holdings in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC bought a new position in GE Vernova during the fourth quarter valued at $25,000. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in GE Vernova during the third quarter valued at $31,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GEV shares. CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Wolfe Research assumed coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, TD Cowen assumed coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Seven equities 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

GE Vernova Stock Down 0.8 %

GEV opened at $334.21 on Friday. The stock has a market cap of $92.21 billion and a PE ratio of 60.11. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The business’s fifty day simple moving average is $352.15 and its 200 day simple moving average is $317.44.

GE Vernova (NYSE:GEV) last released its earnings results 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 net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase 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.

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.