Millstone Evans Group LLC Takes $422,000 Position in GE Vernova Inc. (NYSE:GEV)

Millstone Evans Group LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, Holdings Channel reports. The fund acquired 1,283 shares of the company’s stock, valued at approximately $422,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Atlas Wealth LLC bought a new position in shares of GE Vernova during the fourth quarter valued at about $230,000. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $25,000. Oxford Financial Group LTD. LLC increased its holdings in GE Vernova by 30.5% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 3,279 shares of the company’s stock valued at $1,079,000 after purchasing an additional 766 shares during the period. TD Private Client Wealth LLC increased its holdings in GE Vernova by 409.3% during the 4th quarter. TD Private Client Wealth LLC now owns 3,769 shares of the company’s stock valued at $1,240,000 after purchasing an additional 3,029 shares during the period. Finally, Truepoint Inc. purchased a new position in GE Vernova during the 4th quarter valued at about $289,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEV. New Street Research set a $380.00 price target on GE Vernova in a report on Wednesday, March 5th. Wolfe Research began coverage on GE Vernova in a report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. Baird R W upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Robert W. Baird began coverage on GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price target on the stock. Finally, Evercore ISI boosted their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Seven 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 stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Trading Down 0.8 %

GEV stock opened at $334.21 on Friday. The stock has a market capitalization of $92.21 billion and a PE ratio of 60.11. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50. The stock’s 50 day simple moving average is $352.15 and its 200 day simple moving average is $317.44.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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). The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue was up 5.1% on a year-over-year basis. On average, research analysts predict 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 repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.