Mystic Asset Management Inc. Acquires Shares of 1,177 GE Vernova Inc. (NYSE:GEV)

Mystic Asset Management Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,177 shares of the company's stock, valued at approximately $387,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Register Financial Advisors LLC purchased a new stake in shares of GE Vernova during the fourth quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC grew its holdings in shares of GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after buying an additional 822 shares during the last quarter. Yarbrough Capital LLC grew its holdings in shares of GE Vernova by 67.2% during the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after buying an additional 1,160 shares during the last quarter. Legacy Bridge LLC grew its holdings in shares of GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock valued at $3,612,000 after buying an additional 4,776 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of GE Vernova by 16.6% during the fourth quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after buying an additional 1,408 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore ISI increased their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Guggenheim upgraded shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target on the stock in a research note on Wednesday, March 5th. Citigroup lifted their price target 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. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a "buy" rating and a $425.00 price objective on the stock. Finally, Jefferies Financial Group raised their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a "buy" rating in a research report on Friday, December 13th. 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $348.72.

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GE Vernova Trading Down 0.8 %

Shares of GEV stock traded down $2.62 during trading hours on Friday, reaching $334.21. 3,010,670 shares of the stock were exchanged, compared to its average volume of 3,519,873. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The company's 50-day moving average price is $352.15 and its 200-day moving average price is $317.44. The firm has a market capitalization of $92.21 billion and a price-to-earnings ratio of 60.11.

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

GE Vernova announced that its board has initiated a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are 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.