Brown Brothers Harriman & Co. Acquires 147 Shares of GE Vernova Inc. (NYSE:GEV)

Brown Brothers Harriman & Co. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.9% during the 4th quarter, Holdings Channel reports. The firm owned 3,931 shares of the company’s stock after buying an additional 147 shares during the period. Brown Brothers Harriman & Co.’s holdings in GE Vernova were worth $1,293,000 at the end of the most recent reporting period.

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

GE Vernova Stock Performance

Shares of NYSE GEV opened at $302.71 on Monday. The stock has a 50 day moving average price of $345.68 and a 200 day moving average price of $323.33. The firm has a market capitalization of $83.52 billion and a price-to-earnings ratio of 54.44. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last issued its earnings results 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). 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%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research reports. Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reduced their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, TD Cowen began coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.