Flagship Wealth Advisors LLC Takes Position in GE Vernova Inc. (NYSE:GEV)

Flagship Wealth Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 370 shares of the company’s stock, valued at approximately $122,000.

A number of other hedge funds have also recently modified their holdings of the business. Cedar Mountain Advisors LLC raised its position in shares of GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the last quarter. Fairway Wealth LLC raised its position in shares of GE Vernova by 220.0% in the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its position in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after purchasing an additional 69 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised its position in shares of GE Vernova by 175.0% in 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 during the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $332.33 on Tuesday. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The company has a 50 day simple moving average of $354.99 and a two-hundred day simple moving average of $315.42. The firm has a market cap of $91.69 billion and a P/E ratio of 59.77.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GEV shares. Jefferies Financial Group lifted their price target on GE Vernova from $348.00 to $391.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Truist Financial boosted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Robert W. Baird began coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. 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 research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Company 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.