Avantax Advisory Services Inc. Has $2.45 Million Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Avantax Advisory Services Inc. lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.1% during the fourth quarter, Holdings Channel reports. The firm owned 7,433 shares of the company’s stock after purchasing an additional 153 shares during the quarter. Avantax Advisory Services Inc.’s holdings in GE Vernova were worth $2,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cedar Mountain Advisors LLC raised its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the period. Fairway Wealth LLC raised its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC raised its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after buying an additional 69 shares during the period. Darwin Wealth Management LLC acquired a new position in GE Vernova during the third quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC raised its position in GE Vernova by 175.0% during the third 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 Analysts Forecast Growth

GEV has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. CICC Research began coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Price Performance

NYSE GEV opened at $313.76 on Monday. The firm has a market cap of $86.57 billion and a PE ratio of 56.43. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The stock’s 50 day simple moving average is $355.75 and its 200 day simple moving average is $314.43.

GE Vernova (NYSE:GEV) last released 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are 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.