GE Vernova Inc. (NYSE:GEV) Shares Sold by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,318 shares of the company’s stock after selling 356 shares during the quarter. Greenwich Wealth Management LLC’s holdings in GE Vernova were worth $433,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Howard Capital Management Group LLC purchased a new stake in GE Vernova in the 3rd quarter valued at about $213,000. Atria Investments Inc lifted its holdings in shares of GE Vernova by 127.0% in the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of GE Vernova during the 3rd quarter worth approximately $758,000. Oppenheimer & Co. Inc. increased its holdings in GE Vernova by 3.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,457 shares of the company’s stock valued at $1,646,000 after purchasing an additional 200 shares during the last quarter. Finally, KBC Group NV raised its position in GE Vernova by 13.7% in the third quarter. KBC Group NV now owns 37,126 shares of the company’s stock valued at $9,466,000 after purchasing an additional 4,460 shares during the period.

GE Vernova Stock Up 4.5 %

Shares of NYSE GEV opened at $313.76 on Monday. The business has a 50-day moving average price of $355.75 and a 200 day moving average price of $314.43. The stock has a market cap of $86.57 billion and a PE ratio of 56.43. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50.

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

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GEV shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $453.00 price objective on shares of GE Vernova in a research note on Tuesday, January 28th. Bank of America lifted their target price on 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 increased their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Citigroup raised their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seven equities research 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $349.02.

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.