Midland Wealth Advisors LLC Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Midland Wealth Advisors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, Holdings Channel reports. The firm bought 742 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. Mountaineer Partners Management LLC acquired a new position in GE Vernova during the third quarter worth about $2,507,296,000. WCM Investment Management LLC grew its position in GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock worth $639,704,000 after buying an additional 1,161,901 shares during the period. Raymond James Financial Inc. acquired a new position in GE Vernova during the fourth quarter worth about $219,187,000. FMR LLC grew its position in GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 buying an additional 460,834 shares during the period.

Analyst Ratings Changes

Several brokerages have weighed in on GEV. CICC Research began coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They set an “outperform” rating on the stock. Jefferies Financial Group upped their price target on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. BMO Capital Markets reduced their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Finally, Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $349.02.

GE Vernova Stock Performance

Shares of GEV stock opened at $269.89 on Tuesday. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50. The company has a 50 day moving average price of $358.84 and a 200 day moving average price of $311.18. The firm has a market capitalization of $74.46 billion and a price-to-earnings ratio of 48.54.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 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 for the quarter, compared to analyst estimates of $10.70 billion. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its board has initiated a stock repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are 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.