Millstone Evans Group LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,283 shares of the company's stock, valued at approximately $422,000.
Several other hedge funds have also modified their holdings of GEV. Atlas Wealth LLC bought a new position in shares of GE Vernova in the 4th quarter valued at about $230,000. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the 4th quarter worth about $25,000. Oxford Financial Group LTD. LLC boosted its stake in shares of GE Vernova by 30.5% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 3,279 shares of the company's stock worth $1,079,000 after purchasing an additional 766 shares during the period. TD Private Client Wealth LLC grew its holdings in GE Vernova by 409.3% during the 4th quarter. TD Private Client Wealth LLC now owns 3,769 shares of the company's stock valued at $1,240,000 after purchasing an additional 3,029 shares during the last quarter. Finally, Truepoint Inc. purchased a new stake in GE Vernova in the 4th quarter worth about $289,000.
Wall Street Analyst Weigh In
GEV has been the subject of several recent analyst reports. Jefferies Financial Group boosted their target price on GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research report on Friday, December 13th. The Goldman Sachs Group upped their price objective on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Robert W. Baird assumed coverage on GE Vernova in a research report on Thursday, February 13th. They set an "outperform" rating and a $448.00 target price for the company. Wells Fargo & Company upped their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, Johnson Rice assumed coverage on shares of GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 price objective for the company. Seven research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $348.72.
Get Our Latest Research Report on GEV
GE Vernova Trading Down 5.6 %
Shares of NYSE GEV traded down $18.73 during midday trading on Wednesday, reaching $317.47. The company had a trading volume of 3,798,378 shares, compared to its average volume of 3,514,131. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The business's 50-day simple moving average is $350.80 and its 200 day simple moving average is $321.14. The stock has a market cap of $87.59 billion and a P/E ratio of 57.10.
GE Vernova (NYSE:GEV - Get Free Report) last issued its 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 firm had revenue of $10.56 billion during the quarter, compared to analysts' expectations of $10.70 billion. The business's revenue for the quarter was up 5.1% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova announced that its board has approved a share buyback program 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 programs are usually a sign that the company's leadership believes its stock is undervalued.
About GE Vernova
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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.
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