GE Vernova Inc. (NYSE:GEV) Shares Bought by Sandy Spring Bank

Sandy Spring Bank raised its holdings in GE Vernova Inc. (NYSE:GEV) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,143 shares of the company’s stock after purchasing an additional 106 shares during the period. Sandy Spring Bank’s holdings in GE Vernova were worth $376,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cedar Mountain Advisors LLC grew its holdings in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% in the fourth 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 period. Pineridge Advisors LLC grew its holdings in GE Vernova by 530.8% in 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 during the period. Asset Planning Inc acquired a new stake in GE Vernova in the fourth quarter valued at approximately $35,000. Finally, Riggs Asset Managment Co. Inc. grew its holdings in GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after purchasing an additional 57 shares during the period.

GE Vernova Stock Down 0.8 %

NYSE:GEV opened at $334.21 on Friday. The company has a market capitalization of $92.21 billion and a P/E ratio of 60.11. GE Vernova Inc. has a 52 week low of $119.00 and a 52 week high of $447.50. The stock’s fifty day moving average is $352.15 and its two-hundred day moving average is $317.44.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 firm had revenue of $10.56 billion during 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%. The company’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its board has initiated a stock buyback 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GEV. Johnson Rice began 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. Marathon Capitl raised GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. Truist Financial lifted their price target on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Evercore ISI lifted their price target on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

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.