Wulff Hansen & CO. Boosts Holdings in GE Vernova Inc. (NYSE:GEV)

Wulff Hansen & CO. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 17.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,112 shares of the company’s stock after acquiring an additional 311 shares during the period. Wulff Hansen & CO.’s holdings in GE Vernova were worth $695,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GEV. Howard Capital Management Group LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at $213,000. Oppenheimer Asset Management Inc. acquired a new stake in GE Vernova during the 3rd quarter worth $758,000. Empowered Funds LLC boosted its stake in GE Vernova by 6.0% during the 3rd quarter. Empowered Funds LLC now owns 4,352 shares of the company’s stock worth $1,110,000 after purchasing an additional 245 shares during the period. Claro Advisors LLC boosted its stake in GE Vernova by 22.8% during the 3rd quarter. Claro Advisors LLC now owns 1,465 shares of the company’s stock worth $374,000 after purchasing an additional 272 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in GE Vernova by 24.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,908 shares of the company’s stock worth $4,311,000 after purchasing an additional 3,274 shares during the period.

Analyst Ratings Changes

A number of brokerages recently weighed in on GEV. Guggenheim upgraded shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target for the company in a research note on Wednesday, March 5th. Barclays decreased their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. BMO Capital Markets decreased their price target on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price target for the company. Finally, Johnson Rice began coverage on shares of GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Trading Down 4.0 %

NYSE:GEV opened at $318.64 on Wednesday. The firm has a 50-day moving average price of $354.04 and a two-hundred day moving average price of $316.24. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a market capitalization of $87.91 billion and a P/E ratio of 57.31.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is 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.