Optimum Investment Advisors Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Optimum Investment Advisors raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 13.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,347 shares of the company’s stock after purchasing an additional 160 shares during the quarter. Optimum Investment Advisors’ holdings in GE Vernova were worth $443,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Howard Capital Management Group LLC bought a new stake in GE Vernova during the 3rd quarter valued at about $213,000. Empowered Funds LLC increased its position in shares of GE Vernova by 6.0% during the third quarter. Empowered Funds LLC now owns 4,352 shares of the company’s stock worth $1,110,000 after acquiring an additional 245 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of GE Vernova by 24.0% during the third quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock valued at $4,311,000 after acquiring an additional 3,274 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of GE Vernova by 5.0% in the third quarter. Prospera Financial Services Inc now owns 2,854 shares of the company’s stock valued at $729,000 after purchasing an additional 135 shares during the period. Finally, Jennison Associates LLC grew its stake in GE Vernova by 20.2% in the third quarter. Jennison Associates LLC now owns 10,298 shares of the company’s stock worth $2,626,000 after purchasing an additional 1,733 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GEV. Bank of America lifted their target price on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Baird R W raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Wolfe Research initiated coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Finally, TD Cowen started coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Stock Down 0.8 %

Shares of NYSE:GEV opened at $334.21 on Friday. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock has a market cap of $92.21 billion and a price-to-earnings ratio of 60.11. The business has a 50-day moving average price of $352.15 and a 200-day moving average price of $318.32.

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). The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase program 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 programs are often a sign that the company’s board 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.