374,417 Shares in GE Vernova Inc. (NYSE:GEV) Purchased by Axiom Investors LLC DE

Axiom Investors LLC DE bought a new position in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 374,417 shares of the company’s stock, valued at approximately $123,157,000. GE Vernova comprises about 0.9% of Axiom Investors LLC DE’s holdings, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. AIA Group Ltd bought a new stake in GE Vernova in the fourth quarter worth $4,324,000. Hazlett Burt & Watson Inc. increased its holdings in GE Vernova by 13.7% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 522 shares of the company’s stock valued at $172,000 after purchasing an additional 63 shares during the period. Wellington Management Group LLP raised its position in GE Vernova by 45.8% during the 4th quarter. Wellington Management Group LLP now owns 1,345,154 shares of the company’s stock valued at $442,462,000 after purchasing an additional 422,794 shares during the last quarter. Partners in Financial Planning bought a new position in GE Vernova in the 4th quarter worth $276,000. Finally, O Shaughnessy Asset Management LLC boosted its position in GE Vernova by 11.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 28,710 shares of the company’s stock valued at $9,444,000 after acquiring an additional 3,026 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target on the stock in a report on Wednesday, March 5th. Citigroup raised their price target on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Finally, Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Trading Down 0.1 %

Shares of GE Vernova stock opened at $302.71 on Monday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The business’s 50 day simple moving average is $345.68 and its 200-day simple moving average is $323.33. The stock has a market capitalization of $83.52 billion and a price-to-earnings ratio of 54.44.

GE Vernova (NYSE:GEV) last issued 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 net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its board has authorized a stock buyback plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board 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.