Horizon Investments LLC Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

Horizon Investments LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 53.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,772 shares of the company's stock after acquiring an additional 3,736 shares during the period. Horizon Investments LLC's holdings in GE Vernova were worth $3,543,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GEV. Cedar Mountain Advisors LLC grew 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 buying an additional 39 shares during the last quarter. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC grew its stake in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $31,000. Finally, Prestige Wealth Management Group LLC raised its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GEV shares. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an "outperform" rating on the stock. Wolfe Research began coverage on GE Vernova in a report on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 price objective on the stock. Guggenheim raised GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 target price for the company in a report on Wednesday, March 5th. Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $348.72.

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GE Vernova Trading Down 0.8 %

GEV stock traded down $2.62 during midday trading on Friday, hitting $334.21. 3,010,670 shares of the company's stock were exchanged, compared to its average volume of 3,519,873. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The stock has a market capitalization of $92.21 billion and a PE ratio of 60.11. The business has a 50-day simple moving average of $352.15 and a two-hundred day simple moving average of $318.32.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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). The business 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%. GE Vernova's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.