Howe & Rusling Inc. Sells 43 Shares of GE Vernova Inc. (NYSE:GEV)

Howe & Rusling Inc. trimmed its position in GE Vernova Inc. (NYSE:GEV) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 887 shares of the company’s stock after selling 43 shares during the quarter. Howe & Rusling Inc.’s holdings in GE Vernova were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew its holdings in shares of GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after buying an additional 39 shares during the last quarter. MRP Capital Investments LLC bought a new position in GE Vernova in the 4th quarter valued at about $25,000. Fairway Wealth LLC lifted its position in GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC boosted its stake in GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV opened at $303.10 on Friday. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock’s 50-day simple moving average is $347.66 and its 200 day simple moving average is $320.99. The stock has a market capitalization of $83.63 billion and a price-to-earnings ratio of 54.51.

GE Vernova (NYSE:GEV) last announced 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). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEV. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Wednesday, March 5th. Bank of America raised their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Johnson Rice assumed coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. New Street Research set a $380.00 price target on shares of GE Vernova in a research report on Wednesday, March 5th. Finally, Evercore ISI upped their price objective on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Seven 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.54.

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.