Truepoint Inc. Takes Position in GE Vernova Inc. (NYSE:GEV)

Truepoint Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 880 shares of the company's stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC raised its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock valued at $25,000 after acquiring an additional 39 shares in the last quarter. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC lifted its stake 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 period.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. Bank of America raised their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. The Goldman Sachs Group lifted their price target on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 24th. BMO Capital Markets lowered their price target on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Citigroup boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Finally, Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Seven investment 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $348.72.

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GE Vernova Trading Down 2.2 %

GE Vernova stock traded down $7.64 during midday trading on Tuesday, hitting $335.93. 2,630,630 shares of the stock were exchanged, compared to its average volume of 3,518,216. The stock has a market capitalization of $92.68 billion and a price-to-earnings ratio of 60.42. The stock's 50-day simple moving average is $351.71 and its 200 day simple moving average is $320.18. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50.

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 the consensus estimate 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 net margin of 4.44% and a return on equity of 6.70%. The firm's revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

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.