Wealthfront Advisers LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 68.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,028 shares of the company's stock after purchasing an additional 15,037 shares during the period. Wealthfront Advisers LLC's holdings in GE Vernova were worth $12,180,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cedar Mountain Advisors LLC boosted its position in shares of GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after acquiring an additional 39 shares in the last quarter. Fairway Wealth LLC boosted its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC increased 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 during the last quarter. Covestor Ltd increased its stake in GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company's stock valued at $31,000 after purchasing an additional 46 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter worth approximately $31,000.
GE Vernova stock traded up $14.51 during midday trading on Wednesday, reaching $298.72. The company's stock had a trading volume of 4,523,349 shares, compared to its average volume of 4,285,010. GE Vernova Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $447.50. The firm has a market capitalization of $82.42 billion and a PE ratio of 53.73. The stock's 50 day simple moving average is $357.93 and its 200 day simple moving average is $311.88.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova declared that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.
GEV has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Barclays dropped their price target on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, CICC Research began coverage on GE Vernova in a research report on Wednesday, February 19th. They set an "outperform" rating on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $349.02.
View Our Latest Research Report on 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.
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