Envestnet Asset Management Inc. Has $135.03 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Envestnet Asset Management Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 410,503 shares of the company’s stock after purchasing an additional 7,662 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of GE Vernova worth $135,027,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the period. MRP Capital Investments LLC acquired a new stake in GE Vernova in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC grew 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 purchasing an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $30,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GEV shares. Wells Fargo & Company increased their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Susquehanna initiated coverage on shares of GE Vernova in a research note on Wednesday, April 2nd. They set a “positive” rating and a $370.00 price objective on the stock. Bank of America raised their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Finally, Robert W. Baird began coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $349.20.

GE Vernova Price Performance

Shares of GEV opened at $284.92 on Tuesday. The firm has a 50 day simple moving average of $333.17 and a two-hundred day simple moving average of $326.26. GE Vernova Inc. has a one year low of $125.86 and a one year high of $447.50. The company has a market cap of $77.88 billion and a P/E ratio of 51.24.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates 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%. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. On average, analysts expect 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 stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

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.