GE Vernova Inc. (NYSE:GEV) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 13.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,310 shares of the company’s stock after selling 1,651 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in GE Vernova were worth $3,391,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. boosted its position in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after acquiring an additional 27 shares in the last quarter. Hengehold Capital Management LLC raised its holdings in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares in the last quarter. AdvisorNet Financial Inc lifted 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 buying an additional 30 shares during the last quarter. Mutual Advisors LLC boosted its holdings in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after buying an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after buying an additional 31 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $335.38 on Thursday. The business’s fifty day moving average price is $353.42 and its two-hundred day moving average price is $316.38. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The stock has a market capitalization of $92.53 billion and a price-to-earnings ratio of 60.32.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 22nd. The company reported $1.73 EPS 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 during the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GEV. Wells Fargo & Company boosted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. BMO Capital Markets dropped their price target on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $348.72.

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.