GE Vernova Inc. (NYSE:GEV) Shares Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 16.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,058 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in GE Vernova were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Raymond James Financial Inc. acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $219,187,000. FMR LLC boosted its holdings in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GE Vernova by 34.1% during 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 purchasing an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings 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 worth $203,134,000 after purchasing an additional 456,879 shares during the last quarter.

GE Vernova Trading Up 5.0 %

Shares of GEV stock opened at $283.52 on Wednesday. The firm has a fifty day moving average price of $357.93 and a 200 day moving average price of $311.88. The company has a market cap of $78.22 billion and a P/E ratio of 50.99. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared 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 reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. TD Cowen initiated coverage on GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Morgan Stanley upped their price objective on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Finally, Johnson Rice initiated coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average target price of $349.02.

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.