Worth Financial Advisory Group LLC Invests $235,000 in GE Vernova Inc. (NYSE:GEV)

Worth Financial Advisory Group LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 714 shares of the company’s stock, valued at approximately $235,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the 3rd quarter worth approximately $2,507,296,000. Raymond James Financial Inc. bought a new stake in GE Vernova in the fourth quarter valued at $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after acquiring an additional 460,834 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of GE Vernova by 284.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares during the period. Finally, Castle Hook Partners LP boosted its stake in shares of GE Vernova by 39.3% in the 3rd quarter. Castle Hook Partners LP now owns 1,050,806 shares of the company’s stock valued at $267,935,000 after purchasing an additional 296,464 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GEV shares. 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 research report on Friday, December 13th. Guggenheim upgraded shares of 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. Barclays decreased their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Royal Bank of Canada dropped their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Finally, Robert W. Baird began coverage on GE Vernova in a research note on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price objective on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Price Performance

Shares of GEV stock opened at $317.47 on Thursday. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The stock has a 50-day moving average of $349.42 and a 200-day moving average of $321.12. The stock has a market cap of $87.59 billion and a PE ratio of 57.10.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate 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 plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

GE Vernova 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.