Sanctuary Wealth Management L.L.C. Has $64,000 Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Sanctuary Wealth Management L.L.C. decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 16.2% during the 4th quarter, Holdings Channel reports. The firm owned 196 shares of the company’s stock after selling 38 shares during the period. Sanctuary Wealth Management L.L.C.’s holdings in GE Vernova were worth $64,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Register Financial Advisors LLC acquired a new position in GE Vernova during the fourth quarter worth approximately $206,000. GPS Wealth Strategies Group LLC raised its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after acquiring an additional 822 shares during the period. Yarbrough Capital LLC lifted its holdings in GE Vernova by 67.2% during the 4th 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 during the last quarter. Legacy Bridge LLC boosted its position in GE Vernova by 77.0% during the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after purchasing an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in shares of GE Vernova by 16.6% in the fourth 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 last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GEV shares. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a research note on Wednesday, March 5th. BMO Capital Markets reduced their price objective on GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial boosted their price target on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Bank of America increased their price objective on GE Vernova from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $349.54.

GE Vernova Price Performance

GEV stock opened at $302.71 on Friday. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The stock has a market cap of $83.52 billion and a price-to-earnings ratio of 54.44. The company has a 50 day simple moving average of $345.68 and a 200 day simple moving average of $322.53.

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 the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.