Providence Capital Advisors LLC Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Providence Capital Advisors LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 884 shares of the company’s stock after buying an additional 37 shares during the quarter. Providence Capital Advisors LLC’s holdings in GE Vernova were worth $291,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted 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 purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Fairway Wealth LLC lifted its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares during the last quarter.

GE Vernova Price Performance

NYSE GEV opened at $303.10 on Friday. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The company has a market cap of $83.63 billion and a PE ratio of 54.51. The stock’s 50 day simple moving average is $347.66 and its 200-day simple moving average is $320.99.

GE Vernova (NYSE:GEV) last announced its earnings results 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). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GEV shares. CICC Research initiated coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Robert W. Baird initiated coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group boosted their target price 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. Finally, TD Cowen started coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $349.54.

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.