TD Private Client Wealth LLC Has $1.24 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

TD Private Client Wealth LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 409.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,769 shares of the company’s stock after buying an additional 3,029 shares during the period. TD Private Client Wealth LLC’s holdings in GE Vernova were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GEV. Howard Capital Management Group LLC acquired a new position in GE Vernova during the third quarter valued at $213,000. Empowered Funds LLC increased its position in GE Vernova by 6.0% in the 3rd 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 position in GE Vernova by 24.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock worth $4,311,000 after purchasing an additional 3,274 shares during the last quarter. Prospera Financial Services Inc increased its position in GE Vernova by 5.0% in the 3rd quarter. Prospera Financial Services Inc now owns 2,854 shares of the company’s stock worth $729,000 after purchasing an additional 135 shares during the last quarter. Finally, Jennison Associates LLC increased its position in GE Vernova by 20.2% in the 3rd quarter. Jennison Associates LLC now owns 10,298 shares of the company’s stock worth $2,626,000 after purchasing an additional 1,733 shares during the last quarter.

GE Vernova Trading Down 0.8 %

Shares of GEV stock opened at $334.21 on Friday. The stock has a 50 day moving average of $352.15 and a two-hundred day moving average of $318.32. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The company has a market capitalization of $92.21 billion and a P/E ratio of 60.11.

GE Vernova (NYSE:GEV) last posted its 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). The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several research analysts have weighed in on GEV shares. Barclays dropped their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. New Street Research set a $380.00 price objective on GE Vernova in a report on Wednesday, March 5th. BMO Capital Markets lowered their price objective on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Johnson Rice began coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective on the stock. Finally, Truist Financial increased their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.