HBK Sorce Advisory LLC Has $1.25 Million Holdings in GE Vernova Inc. (NYSE:GEV)

HBK Sorce Advisory LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,784 shares of the company’s stock after purchasing an additional 71 shares during the quarter. HBK Sorce Advisory LLC’s holdings in GE Vernova were worth $1,245,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the 3rd quarter worth $2,507,296,000. Raymond James Financial Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at $219,187,000. FMR LLC boosted its position in shares of GE Vernova by 2.5% in the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after purchasing an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in GE Vernova by 284.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after purchasing an additional 456,879 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $300.27 on Friday. The stock has a market cap of $82.84 billion and a P/E ratio of 54.00. The company has a fifty day moving average price of $356.55 and a two-hundred day moving average price of $311.71. GE Vernova Inc. has a one year low of $115.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last posted 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 business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy 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 stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GEV. Barclays reduced their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Guggenheim raised 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. Wells Fargo & Company lifted their price target on shares of GE Vernova from $385.00 to $411.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Citigroup upped their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $349.02.

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.