Axxcess Wealth Management LLC Raises Stake in GE Vernova Inc. (NYSE:GEV)

Axxcess Wealth Management LLC lifted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 111.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,036 shares of the company's stock after acquiring an additional 2,123 shares during the period. Axxcess Wealth Management LLC's holdings in GE Vernova were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GEV. Cedar Mountain Advisors LLC boosted its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC grew its stake in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC raised its holdings in GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Asset Planning Inc acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $35,000. Finally, Riggs Asset Managment Co. Inc. increased its holdings in shares of GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company's stock valued at $39,000 after purchasing an additional 57 shares during the last quarter.

GE Vernova Stock Performance

GEV stock traded down $7.64 during midday trading on Tuesday, reaching $335.93. 2,630,583 shares of the company were exchanged, compared to its average volume of 3,518,216. The company has a market cap of $92.68 billion and a price-to-earnings ratio of 60.42. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The stock's 50-day simple moving average is $351.71 and its 200 day simple moving average is $320.18.

Remove Ads

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has initiated a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GEV. Robert W. Baird initiated coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an "outperform" rating and a $448.00 price target on the stock. The Goldman Sachs Group increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Marathon Capitl upgraded GE Vernova to a "strong-buy" rating in a report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, TD Cowen initiated coverage on GE Vernova in a research report on Thursday, December 5th. They issued a "buy" rating and a $400.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $348.72.

GE Vernova 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.