1620 Investment Advisors Inc. Has $29,000 Holdings in GE Vernova Inc. (NYSE:GEV)

1620 Investment Advisors Inc. trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 31.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87 shares of the company’s stock after selling 39 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in GE Vernova were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of GEV. Howard Capital Management Group LLC bought a new stake in GE Vernova during the 3rd quarter worth approximately $213,000. Empowered Funds LLC grew its holdings in shares of GE Vernova by 6.0% during the third quarter. Empowered Funds LLC now owns 4,352 shares of the company’s stock worth $1,110,000 after purchasing an additional 245 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of GE Vernova by 24.0% in the third quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock valued at $4,311,000 after buying an additional 3,274 shares in the last quarter. Prospera Financial Services Inc raised its holdings in shares of GE Vernova by 5.0% in the third quarter. Prospera Financial Services Inc now owns 2,854 shares of the company’s stock valued at $729,000 after buying an additional 135 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in GE Vernova by 3.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,423 shares of the company’s stock worth $618,000 after buying an additional 89 shares in the last quarter.

GE Vernova Trading Down 0.8 %

GE Vernova stock 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 stock’s 50 day moving average is $352.15 and its 200-day moving average is $317.44. The company has a market capitalization of $92.21 billion and a price-to-earnings ratio of 60.11.

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

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Jefferies Financial Group raised their target price on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $348.72.

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.