TIAA Trust National Association Grows Position in GE Vernova Inc. (NYSE:GEV)

TIAA Trust National Association raised its holdings in GE Vernova Inc. (NYSE:GEV) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,735 shares of the company’s stock after purchasing an additional 934 shares during the period. TIAA Trust National Association’s holdings in GE Vernova were worth $3,531,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Register Financial Advisors LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $206,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after acquiring an additional 822 shares during the period. Yarbrough Capital LLC grew its position in shares of GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after purchasing an additional 1,160 shares in the last quarter. Legacy Bridge LLC raised its stake in shares of GE Vernova by 77.0% during the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock valued at $3,612,000 after purchasing an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co raised its stake in shares of GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock valued at $3,247,000 after purchasing an additional 1,408 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Johnson Rice initiated coverage on shares of GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Citigroup upped their target price on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Wolfe Research assumed coverage on shares of GE Vernova in a report on Wednesday, December 4th. They issued an “outperform” rating and a $403.00 price target for the company. Finally, Evercore ISI upped their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Price Performance

Shares of GEV stock opened at $317.47 on Thursday. The business has a 50-day moving average of $349.42 and a 200 day moving average of $321.12. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The stock has a market capitalization of $87.59 billion and a PE ratio of 57.10.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share 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. GE Vernova’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova declared that its board has initiated 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 buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.