921 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Yoffe Investment Management LLC

Yoffe Investment Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 921 shares of the company's stock, valued at approximately $303,000.

Several other large investors have also bought and sold shares of the company. ExodusPoint Capital Management LP bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $11,948,000. Arete Wealth Advisors LLC increased its holdings in shares of GE Vernova by 185.7% in the 4th quarter. Arete Wealth Advisors LLC now owns 4,646 shares of the company's stock worth $1,540,000 after purchasing an additional 3,020 shares in the last quarter. World Investment Advisors raised its stake in shares of GE Vernova by 7.6% in the fourth quarter. World Investment Advisors now owns 3,096 shares of the company's stock worth $1,018,000 after purchasing an additional 220 shares during the last quarter. Westpac Banking Corp lifted its holdings in shares of GE Vernova by 378.6% during the fourth quarter. Westpac Banking Corp now owns 4,102 shares of the company's stock valued at $1,349,000 after purchasing an additional 3,245 shares in the last quarter. Finally, Nicolet Advisory Services LLC boosted its position in shares of GE Vernova by 3.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,023 shares of the company's stock valued at $336,000 after buying an additional 38 shares during the last quarter.

GE Vernova Stock Down 8.8 %

NYSE:GEV traded down $26.26 on Friday, reaching $271.40. 8,093,637 shares of the company's stock traded hands, compared to its average volume of 3,503,208. The stock has a 50-day simple moving average of $334.07 and a 200-day simple moving average of $324.74. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The firm has a market cap of $74.19 billion and a PE ratio of 48.81.

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GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly 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). 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 analysts' expectations of $10.70 billion. GE Vernova's revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has authorized 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 typically a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They issued a "buy" rating and a $425.00 target price for the company. Susquehanna assumed coverage on shares of GE Vernova in a report on Wednesday. They issued a "positive" rating and a $370.00 target price on the stock. CICC Research started coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They set an "outperform" rating for the company. Truist Financial set a $440.00 price target on GE Vernova in a research note on Thursday, March 27th. Finally, Jefferies Financial Group upped their price objective on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $349.20.

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.