Atlas Wealth LLC Invests $230,000 in GE Vernova Inc. (NYSE:GEV)

Atlas Wealth LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 699 shares of the company’s stock, valued at approximately $230,000.

Other large investors also recently made changes to their positions in the company. MRP Capital Investments LLC bought a new stake in GE Vernova during the 4th quarter valued at approximately $25,000. Oxford Financial Group LTD. LLC raised its holdings in GE Vernova by 30.5% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 3,279 shares of the company’s stock valued at $1,079,000 after acquiring an additional 766 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in GE Vernova by 409.3% in the 4th quarter. TD Private Client Wealth LLC now owns 3,769 shares of the company’s stock valued at $1,240,000 after acquiring an additional 3,029 shares in the last quarter. Truepoint Inc. acquired a new position in GE Vernova in the 4th quarter valued at approximately $289,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in GE Vernova by 0.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 8,480 shares of the company’s stock valued at $2,789,000 after acquiring an additional 45 shares in the last quarter.

GE Vernova Stock Down 0.8 %

NYSE:GEV opened at $334.21 on Friday. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The firm has a market capitalization of $92.21 billion and a P/E ratio of 60.11. The stock’s fifty day simple moving average is $352.15 and its 200-day simple moving average is $317.44.

GE Vernova (NYSE:GEV) last posted 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 company 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% on a year-over-year basis. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays cut their price target on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Royal Bank of Canada dropped their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday. Truist Financial increased their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Baird R W raised GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Seven equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $348.72.

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.