GE Vernova Inc. (NYSE:GEV) Shares Bought by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. raised its position in GE Vernova Inc. (NYSE:GEV) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,905 shares of the company’s stock after acquiring an additional 1,263 shares during the period. Johnson Investment Counsel Inc.’s holdings in GE Vernova were worth $6,219,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Tiemann Investment Advisors LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $251,000. Midland Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $244,000. Lauterbach Financial Advisors LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $215,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of GE Vernova by 8.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,202 shares of the company’s stock valued at $41,183,000 after purchasing an additional 10,209 shares during the period. Finally, Sound View Wealth Advisors Group LLC lifted its stake in shares of GE Vernova by 9.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 956 shares of the company’s stock valued at $314,000 after purchasing an additional 80 shares during the period.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. TD Cowen started coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. William Blair restated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a report on Wednesday, March 5th. Seven investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Trading Down 6.7 %

NYSE GEV opened at $269.89 on Tuesday. The stock has a market cap of $74.46 billion and a P/E ratio of 48.54. The company’s fifty day simple moving average is $358.84 and its 200-day simple moving average is $311.18. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50.

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 the consensus estimate 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 net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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