Harbour Investments Inc. Purchases 202 Shares of GE Vernova Inc. (NYSE:GEV)

Harbour Investments Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,508 shares of the company’s stock after purchasing an additional 202 shares during the quarter. Harbour Investments Inc.’s holdings in GE Vernova were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $213,000. Empowered Funds LLC increased its stake in GE Vernova by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 4,352 shares of the company’s stock worth $1,110,000 after purchasing an additional 245 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in GE Vernova by 24.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock worth $4,311,000 after purchasing an additional 3,274 shares in the last quarter. Caprock Group LLC increased its stake in GE Vernova by 0.4% during the 3rd quarter. Caprock Group LLC now owns 15,652 shares of the company’s stock worth $3,991,000 after purchasing an additional 62 shares in the last quarter. Finally, OneAscent Financial Services LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $278,000.

GE Vernova Stock Performance

GEV opened at $335.38 on Thursday. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The company has a market capitalization of $92.53 billion and a P/E ratio of 60.32. The stock has a fifty day moving average of $353.42 and a 200-day moving average of $316.38.

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

GE Vernova announced that its board has authorized a share buyback program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a research note on Wednesday, March 5th. Johnson Rice assumed coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. CICC Research assumed coverage on GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating for the company. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. upped their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $348.72.

About 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.