Smith Moore & CO. Purchases 379 Shares of GE Vernova Inc. (NYSE:GEV)

Smith Moore & CO. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,090 shares of the company’s stock after acquiring an additional 379 shares during the quarter. Smith Moore & CO.’s holdings in GE Vernova were worth $687,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. grew its holdings in GE Vernova by 3.5% in the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the period. Hengehold Capital Management LLC grew its stake in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after buying an additional 29 shares during the period. AdvisorNet Financial Inc increased its position in GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after buying an additional 30 shares in the last quarter. Mutual Advisors LLC raised its stake in GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after buying an additional 31 shares during the period. Finally, WASHINGTON TRUST Co boosted its holdings in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after acquiring an additional 31 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Citigroup raised their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Johnson Rice began coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. Finally, New Street Research set a $380.00 price target on GE Vernova in a research report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $349.20.

GE Vernova Stock Down 8.8 %

Shares of NYSE:GEV opened at $271.40 on Friday. The firm has a market capitalization of $74.19 billion and a PE ratio of 48.81. The company has a 50-day moving average price of $334.07 and a two-hundred day moving average price of $324.74. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The firm’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share 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 buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.