Axiom Investors LLC DE Purchases New Shares in GE Vernova Inc. (NYSE:GEV)

Axiom Investors LLC DE acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 374,417 shares of the company's stock, valued at approximately $123,157,000. GE Vernova comprises approximately 0.9% of Axiom Investors LLC DE's investment portfolio, making the stock its 26th largest holding. Axiom Investors LLC DE owned about 0.14% of GE Vernova at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Register Financial Advisors LLC bought a new position in shares of GE Vernova in the 4th quarter valued at about $206,000. GPS Wealth Strategies Group LLC raised its stake in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock worth $294,000 after purchasing an additional 822 shares in the last quarter. Yarbrough Capital LLC boosted its stake in GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after buying an additional 1,160 shares in the last quarter. Legacy Bridge LLC grew its stake in shares of GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after purchasing an additional 4,776 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of GE Vernova by 16.6% in the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after purchasing an additional 1,408 shares during the last quarter.

GE Vernova Price Performance

GE Vernova stock traded down $25.14 during trading hours on Thursday, hitting $305.66. The company had a trading volume of 2,827,605 shares, compared to its average volume of 4,081,231. GE Vernova Inc. has a fifty-two week low of $119.00 and a fifty-two week high of $447.50. The firm's fifty day moving average is $339.82 and its 200-day moving average is $324.64. The firm has a market capitalization of $84.33 billion and a P/E ratio of 54.97.

GE Vernova (NYSE:GEV - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. Wolfe Research started coverage on GE Vernova in a report on Wednesday, December 4th. They issued an "outperform" rating and a $403.00 target price on the stock. Marathon Capitl upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Friday, January 31st. Bank of America lifted their price target on GE Vernova from $380.00 to $415.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. 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 research note on Monday, March 3rd. Finally, Johnson Rice started coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $349.20.

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.