Crowley Wealth Management Inc. Invests $47,000 in GE Vernova Inc. (NYSE:GEV)

Crowley Wealth Management Inc. purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 143 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its stake in shares of GE Vernova by 3.5% during the 4th quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares in the last quarter. Hengehold Capital Management LLC raised its stake in shares of GE Vernova by 2.4% in the 4th quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock valued at $405,000 after acquiring an additional 29 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of GE Vernova by 1.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock valued at $611,000 after acquiring an additional 30 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of GE Vernova by 1.2% in the 4th quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock valued at $888,000 after acquiring an additional 31 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its stake in shares of GE Vernova by 1.9% in the 4th quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock valued at $560,000 after acquiring an additional 31 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV stock opened at $334.21 on Monday. The stock’s fifty day simple moving average is $352.15 and its 200 day simple moving average is $319.15. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The firm has a market cap of $92.21 billion and a price-to-earnings ratio of 60.11.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has initiated a stock buyback 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 believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a research note on Wednesday, March 5th. CICC Research started coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price on the stock. Barclays lowered 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. Finally, New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

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.