Arete Wealth Advisors LLC lifted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 185.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,646 shares of the company's stock after acquiring an additional 3,020 shares during the period. Arete Wealth Advisors LLC's holdings in GE Vernova were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of GEV. State Street Corp grew its holdings in shares of GE Vernova by 1.1% during the third quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after buying an additional 118,184 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GE Vernova by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares during the period. Norges Bank acquired a new position in shares of GE Vernova during the 4th quarter worth about $1,109,720,000. Franklin Resources Inc. boosted its holdings in GE Vernova by 3.7% in the third quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company's stock valued at $533,257,000 after purchasing an additional 71,067 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of GE Vernova by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,679,396 shares of the company's stock worth $552,404,000 after purchasing an additional 49,821 shares during the last quarter.
GE Vernova Stock Performance
GEV traded down $26.26 during trading on Friday, hitting $271.40. The stock had a trading volume of 8,093,637 shares, compared to its average volume of 3,503,208. The stock has a 50 day simple moving average of $334.07 and a two-hundred day simple moving average of $324.74. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a market capitalization of $74.19 billion and a PE ratio of 48.81.
GE Vernova (NYSE:GEV - Get Free Report) 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 for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.
GE Vernova declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
GEV has been the topic of a number of recent analyst reports. Susquehanna started coverage on shares of GE Vernova in a research note on Wednesday. They set a "positive" rating and a $370.00 price target on the stock. New Street Research set a $380.00 price target on GE Vernova in a research report on Wednesday, March 5th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Robert W. Baird assumed coverage on shares of GE Vernova in a research note on Thursday, February 13th. They issued an "outperform" rating and a $448.00 target price for the company. Finally, Barclays decreased their price target on shares of GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.20.
View Our Latest Research Report on GE Vernova
About GE Vernova
(
Free Report)
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.
Further Reading
Before you consider GE Vernova, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GE Vernova wasn't on the list.
While GE Vernova currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
