Nomura Asset Management Co. Ltd. Raises Stake in GE Vernova Inc. (NYSE:GEV)

Nomura Asset Management Co. Ltd. raised its position in GE Vernova Inc. (NYSE:GEV) by 87.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,167 shares of the company’s stock after purchasing an additional 69,735 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in GE Vernova were worth $49,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mountaineer Partners Management LLC acquired a new position in shares of GE Vernova during the third quarter worth $2,507,296,000. Norges Bank purchased a new stake in GE Vernova during the 4th quarter worth about $1,109,720,000. Raymond James Financial Inc. acquired a new position in shares of GE Vernova during the 4th quarter worth about $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after acquiring an additional 460,834 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after acquiring an additional 456,879 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on shares of GE Vernova in a research note on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target on the stock. TD Cowen initiated coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Truist Financial raised their price objective on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price for the company in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Price Performance

Shares of 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 business’s fifty day moving average price is $345.68 and its 200 day moving average price is $321.69. The firm has a market capitalization of $83.52 billion and a PE ratio of 54.44.

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

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