Royal London Asset Management Ltd. Raises Stake in GE Vernova Inc. (NYSE:GEV)

Royal London Asset Management Ltd. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 40.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,739 shares of the company’s stock after acquiring an additional 37,686 shares during the period. Royal London Asset Management Ltd.’s holdings in GE Vernova were worth $42,675,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GEV. Cedar Mountain Advisors LLC raised its holdings in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. Fairway Wealth LLC raised its holdings in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its holdings in GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after buying an additional 69 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in GE Vernova in the third quarter worth about $31,000. Finally, Prestige Wealth Management Group LLC raised its holdings in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Marathon Capitl raised shares of GE Vernova to a “strong-buy” rating in a report on Friday, January 31st. Robert W. Baird assumed coverage on shares of GE Vernova in a report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective for the company. TD Cowen assumed coverage on shares of GE Vernova in a report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Johnson Rice assumed coverage on shares of GE Vernova in a report on Friday, February 7th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Seven investment 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. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Stock Up 0.2 %

GE Vernova stock opened at $336.46 on Friday. The company has a market cap of $92.83 billion and a price-to-earnings ratio of 60.51. The firm’s fifty day moving average is $352.82 and its 200 day moving average is $316.52. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV) last released 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 business had revenue of $10.56 billion for 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 firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management 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.