OneAscent Financial Services LLC Raises Stock Position in GE Vernova Inc. (NYSE:GEV)

OneAscent Financial Services LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 55.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,691 shares of the company’s stock after acquiring an additional 602 shares during the period. OneAscent Financial Services LLC’s holdings in GE Vernova were worth $556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GEV. Howard Capital Management Group LLC purchased a new stake in shares of GE Vernova during the 3rd quarter valued at $213,000. Public Sector Pension Investment Board raised its holdings in GE Vernova by 15.2% in the third quarter. Public Sector Pension Investment Board now owns 12,096 shares of the company’s stock valued at $3,084,000 after acquiring an additional 1,600 shares in the last quarter. Captrust Financial Advisors grew its stake in GE Vernova by 4.9% in the third quarter. Captrust Financial Advisors now owns 17,131 shares of the company’s stock worth $4,368,000 after purchasing an additional 805 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in shares of GE Vernova in the 3rd quarter worth approximately $636,000. Finally, Janus Henderson Group PLC raised its stake in GE Vernova by 5.8% during the third quarter. Janus Henderson Group PLC now owns 32,881 shares of the company’s stock worth $8,380,000 after acquiring an additional 1,800 shares during the period.

Analyst Ratings Changes

Several analysts have weighed in on GEV shares. Robert W. Baird assumed coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 target price on the stock. Truist Financial increased their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Johnson Rice assumed coverage on shares of GE Vernova in a research report on Friday, February 7th. They issued a “buy” rating and a $425.00 price target for the company. Finally, Wolfe Research began coverage on GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.27.

GE Vernova Stock Performance

Shares of GEV opened at $331.17 on Thursday. The firm has a 50 day moving average price of $339.82 and a 200-day moving average price of $324.64. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The firm has a market cap of $91.37 billion and a price-to-earnings ratio of 59.56.

GE Vernova (NYSE:GEV) last posted 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). The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has authorized a share repurchase plan on Tuesday, December 10th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.