Sequoia Financial Advisors LLC Buys 1,160 Shares of GE Vernova Inc. (NYSE:GEV)

Sequoia Financial Advisors LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,868 shares of the company’s stock after acquiring an additional 1,160 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in GE Vernova were worth $7,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. Armstrong Advisory Group Inc. increased its stake in GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC increased its stake in GE Vernova by 2.4% during the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc increased its stake in GE Vernova by 1.6% during the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares in the last quarter. Mutual Advisors LLC increased its stake in GE Vernova by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in GE Vernova by 1.9% during the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares in the last quarter.

GE Vernova Trading Up 5.1 %

GEV opened at $298.72 on Thursday. GE Vernova Inc. has a 1-year low of $115.00 and a 1-year high of $447.50. The stock’s fifty day simple moving average is $357.33 and its 200 day simple moving average is $311.79. The stock has a market cap of $82.42 billion and a PE ratio of 53.73.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The business’s revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

Analyst Ratings Changes

A number of analysts recently issued reports on GEV shares. Jefferies Financial Group increased their target price on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Johnson Rice started coverage on GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 price target for the company. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Finally, Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $349.02.

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.