KCM Investment Advisors LLC Purchases 550 Shares of GE Vernova Inc. (NYSE:GEV)

KCM Investment Advisors LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 63.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,420 shares of the company’s stock after purchasing an additional 550 shares during the period. KCM Investment Advisors LLC’s holdings in GE Vernova were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. boosted its stake in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after buying an additional 27 shares in the last quarter. Hengehold Capital Management LLC boosted 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 valued at $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc increased its stake in GE Vernova by 1.6% in the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares during the period. Mutual Advisors LLC increased its stake in GE Vernova by 1.2% in the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after acquiring an additional 31 shares during the period. Finally, WASHINGTON TRUST Co raised its position in GE Vernova by 1.9% in the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares in the last quarter.

GE Vernova Stock Down 8.8 %

Shares of GE Vernova stock opened at $271.40 on Monday. The business has a fifty day simple moving average of $334.07 and a 200 day simple moving average of $325.98. The stock has a market cap of $74.19 billion and a PE ratio of 48.81. GE Vernova Inc. has a 12 month low of $125.86 and a 12 month high of $447.50.

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 company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. 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 approved a stock buyback plan 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 plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Bank of America upped their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Johnson Rice assumed coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price target on the stock. Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company upped 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. Seven investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $349.20.

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.