Avantax Advisory Services Inc. Boosts Stock Position in GE Vernova Inc. (NYSE:GEV)

Avantax Advisory Services Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,433 shares of the company’s stock after purchasing an additional 153 shares during the quarter. Avantax Advisory Services Inc.’s holdings in GE Vernova were worth $2,445,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in GE Vernova during the 4th quarter worth approximately $206,000. Atria Investments Inc increased its holdings in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares during the last quarter. GPS Wealth Strategies Group LLC increased its holdings in GE Vernova by 1,126.0% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after purchasing an additional 822 shares during the last quarter. Yarbrough Capital LLC increased its holdings in GE Vernova by 67.2% during the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Legacy Bridge LLC increased its holdings in GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GEV. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a report on Wednesday, March 5th. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. CICC Research began coverage on GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating for the company. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Finally, Jefferies Financial Group boosted their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

GE Vernova Stock Performance

GEV opened at $313.76 on Monday. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The stock’s fifty day moving average is $355.75 and its 200-day moving average is $314.43. The company has a market capitalization of $86.57 billion and a PE ratio of 56.43.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 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 the consensus estimate of $10.70 billion. GE Vernova’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are 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.