GE Vernova Inc. (NYSE:GEV) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,868 shares of the company's stock after acquiring an additional 1,160 shares during the period. Sequoia Financial Advisors LLC's holdings in GE Vernova were worth $7,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Raymond James Financial Inc. purchased a new stake in GE Vernova in the 4th quarter worth approximately $219,187,000. FMR LLC grew its stake in GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company's stock worth $6,131,677,000 after acquiring an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company's stock worth $462,073,000 after acquiring an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company's stock valued at $203,134,000 after buying an additional 456,879 shares during the period.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company boosted 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. Truist Financial boosted their price objective on shares of GE Vernova from $420.00 to $470.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Finally, Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $349.02.

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GE Vernova Stock Performance

Shares of GEV stock traded up $1.59 during trading hours on Thursday, hitting $300.27. 2,878,294 shares of the company were exchanged, compared to its average volume of 4,256,089. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The business's 50-day simple moving average is $356.55 and its two-hundred day simple moving average is $311.71. The stock has a market capitalization of $82.84 billion and a price-to-earnings ratio of 54.00.

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 business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management 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.