Evoke Wealth LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Evoke Wealth LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 850 shares of the company's stock, valued at approximately $280,000.

Other large investors also recently bought and sold shares of the company. Howard Capital Management Group LLC purchased a new stake in GE Vernova during the third quarter valued at approximately $213,000. Empowered Funds LLC lifted its holdings in shares of GE Vernova by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 4,352 shares of the company's stock valued at $1,110,000 after purchasing an additional 245 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of GE Vernova by 24.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company's stock worth $4,311,000 after purchasing an additional 3,274 shares in the last quarter. Caprock Group LLC grew its stake in GE Vernova by 0.4% during the 3rd quarter. Caprock Group LLC now owns 15,652 shares of the company's stock worth $3,991,000 after buying an additional 62 shares during the last quarter. Finally, OneAscent Financial Services LLC acquired a new position in GE Vernova during the 3rd quarter valued at about $278,000.

GE Vernova Stock Performance

GE Vernova stock traded up $10.11 during trading on Monday, reaching $343.98. The company had a trading volume of 3,140,099 shares, compared to its average volume of 3,518,318. The firm has a market capitalization of $94.91 billion and a PE ratio of 61.87. The firm's 50-day simple moving average is $352.15 and its 200 day simple moving average is $319.15. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50.

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GE Vernova (NYSE:GEV - Get Free Report) last announced its 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. William Blair restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, January 23rd. Baird R W raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, February 13th. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating on the stock. TD Cowen began coverage on GE Vernova in a research note on Thursday, December 5th. They issued a "buy" rating and a $400.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $348.72.

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.