Horizon Investments LLC Purchases 3,736 Shares of GE Vernova Inc. (NYSE:GEV)

Horizon Investments LLC raised its position in GE Vernova Inc. (NYSE:GEV) by 53.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,772 shares of the company’s stock after acquiring an additional 3,736 shares during the period. Horizon Investments LLC’s holdings in GE Vernova were worth $3,543,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. lifted its stake in GE Vernova by 3.5% in the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock valued at $262,000 after acquiring an additional 27 shares in the last quarter. Hengehold Capital Management LLC increased its position in shares of 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 during the last quarter. AdvisorNet Financial Inc increased its position in shares of 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 during the last quarter. Mutual Advisors LLC increased its position in shares of 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 during the last quarter. Finally, WASHINGTON TRUST Co increased its position in shares of 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 during the last quarter.

GE Vernova Stock Down 4.0 %

Shares of GEV stock opened at $318.64 on Wednesday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a market cap of $87.91 billion and a P/E ratio of 57.31. The business has a fifty day simple moving average of $354.04 and a 200 day simple moving average of $316.24.

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

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GEV shares. TD Cowen started coverage on GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 target price on the stock. Barclays decreased their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. CICC Research started coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. Finally, Bank of America boosted their target price on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Seven investment 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

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.