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

Greenwich Wealth Management LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 21.3% during the 4th quarter, according to its most recent filing with the SEC. 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 filing with the SEC.

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

GE Vernova Stock Up 4.5 %

Shares of NYSE:GEV opened at $313.76 on Monday. The company has a market cap of $86.57 billion and a P/E ratio of 56.43. The business has a fifty day simple moving average of $355.75 and a 200-day simple moving average of $314.43. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share 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 during the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has initiated 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 buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GEV. Robert W. Baird initiated coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Bank of America upped their price target on shares of GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. 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. 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 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.