GE Vernova Inc. (NYSE:GEV) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 884 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Providence Capital Advisors LLC’s holdings in GE Vernova were worth $291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC raised its stake in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after acquiring an additional 39 shares during the period. MRP Capital Investments LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC lifted its stake in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its position in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the period. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after buying an additional 77 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays dropped their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Johnson Rice began coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. Wells Fargo & Company increased their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Seven 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Down 4.6 %

Shares of NYSE:GEV opened at $303.10 on Friday. The company has a 50 day moving average of $347.66 and a two-hundred day moving average of $320.99. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The company has a market capitalization of $83.63 billion and a price-to-earnings ratio of 54.51.

GE Vernova (NYSE:GEV) last released 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 firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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.