Schroder Investment Management Group Purchases 78,650 Shares of GE Vernova Inc. (NYSE:GEV)

Schroder Investment Management Group boosted its position in GE Vernova Inc. (NYSE:GEV) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,465,804 shares of the company’s stock after acquiring an additional 78,650 shares during the period. Schroder Investment Management Group’s holdings in GE Vernova were worth $482,147,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mountaineer Partners Management LLC purchased a new stake in shares of GE Vernova during the third quarter worth about $2,507,296,000. Norges Bank bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $1,109,720,000. Raymond James Financial Inc. purchased a new position in shares of GE Vernova during the fourth quarter valued at approximately $219,187,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of GE Vernova by 555.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock valued at $187,404,000 after acquiring an additional 482,787 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake 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 worth $203,134,000 after acquiring an additional 456,879 shares during the period.

GE Vernova Price Performance

GEV stock opened at $302.71 on Friday. The company has a market cap of $83.52 billion and a P/E ratio of 54.44. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The stock’s fifty day moving average price is $345.68 and its 200-day moving average price is $322.53.

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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm 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% on a year-over-year basis. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 10th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. New Street Research set a $380.00 price objective on shares of GE Vernova in a research report on Wednesday, March 5th. TD Cowen began coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. BMO Capital Markets reduced their target price on GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Guggenheim upgraded 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. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Company 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.