Cyrus J. Lawrence LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Cyrus J. Lawrence LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,009 shares of the company's stock, valued at approximately $5,594,000.

A number of other institutional investors also recently bought and sold shares of GEV. Armstrong Advisory Group Inc. boosted its stake in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company's stock worth $262,000 after purchasing an additional 27 shares during the period. Hengehold Capital Management LLC boosted its position in shares of GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company's stock worth $405,000 after acquiring an additional 29 shares during the last quarter. AdvisorNet Financial Inc grew its stake in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company's stock valued at $611,000 after acquiring an additional 30 shares in the last quarter. Mutual Advisors LLC increased its holdings in GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company's stock valued at $888,000 after acquiring an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company's stock worth $560,000 after purchasing an additional 31 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GEV shares. Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 price objective for the company. Bank of America lifted their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. CICC Research began coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. 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. Finally, Citigroup lifted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Seven 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $348.72.

Remove Ads

GE Vernova Trading Down 1.6 %

Shares of NYSE:GEV traded down $5.64 during trading on Tuesday, reaching $337.93. The stock had a trading volume of 1,334,094 shares, compared to its average volume of 3,518,216. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The firm's 50-day simple moving average is $351.71 and its 200 day simple moving average is $320.18. The company has a market capitalization of $93.24 billion and a P/E ratio of 60.81.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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). 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 for the quarter, compared to analyst estimates of $10.70 billion. The firm's revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has initiated a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically 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.