Glenview Trust co Purchases 321 Shares of GE Vernova Inc. (NYSE:GEV)

Glenview Trust co grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,131 shares of the company’s stock after acquiring an additional 321 shares during the period. Glenview Trust co’s holdings in GE Vernova were worth $1,030,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Howard Capital Management Group LLC purchased a new stake in shares of GE Vernova in the third quarter worth $213,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of GE Vernova in the third quarter worth $758,000. Oppenheimer & Co. Inc. raised its position in shares of GE Vernova by 3.2% in the third quarter. Oppenheimer & Co. Inc. now owns 6,457 shares of the company’s stock worth $1,646,000 after buying an additional 200 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of GE Vernova by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 7,618 shares of the company’s stock worth $1,942,000 after buying an additional 94 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of GE Vernova by 6.0% in the third quarter. Empowered Funds LLC now owns 4,352 shares of the company’s stock worth $1,110,000 after buying an additional 245 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. New Street Research set a $380.00 price target on GE Vernova in a research report on Wednesday, March 5th. Finally, Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Stock Performance

GEV stock opened at $332.33 on Tuesday. The firm has a 50 day moving average price of $354.99 and a 200-day moving average price of $315.42. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The firm has a market capitalization of $91.69 billion and a price-to-earnings ratio of 59.77.

GE Vernova (NYSE:GEV) last announced 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 return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors 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.