OneAscent Financial Services LLC Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

OneAscent Financial Services LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 55.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,691 shares of the company’s stock after buying an additional 602 shares during the period. OneAscent Financial Services LLC’s holdings in GE Vernova were worth $556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in shares of GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after acquiring an additional 118,184 shares during the period. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the third quarter valued at about $2,507,296,000. Geode Capital Management LLC raised its stake in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after acquiring an additional 195,828 shares during the last quarter. Norges Bank purchased a new position in GE Vernova during the 4th quarter worth approximately $1,109,720,000. Finally, Franklin Resources Inc. lifted its holdings in shares of GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after buying an additional 71,067 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Susquehanna started coverage on GE Vernova in a report on Wednesday. They issued a “positive” rating and a $370.00 price target for the company. Truist Financial raised their target price on shares of GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. TD Cowen assumed coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $350.27.

GE Vernova Trading Up 4.9 %

Shares of GE Vernova stock opened at $331.17 on Thursday. The stock has a market capitalization of $91.37 billion and a price-to-earnings ratio of 59.56. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The firm’s 50-day moving average price is $339.82 and its two-hundred day moving average price is $324.64.

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

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