Royal London Asset Management Ltd. Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Royal London Asset Management Ltd. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 40.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 129,739 shares of the company's stock after buying 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 quarter.

A number of other hedge funds have also bought and sold shares of GEV. Cedar Mountain Advisors LLC increased its stake 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 purchasing an additional 39 shares during the period. Fairway Wealth LLC grew its holdings in GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its position in shares of GE Vernova by 530.8% in the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock worth $27,000 after purchasing an additional 69 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the 3rd quarter valued at $31,000. Finally, Prestige Wealth Management Group LLC grew its stake in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock valued at $31,000 after purchasing an additional 77 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. BMO Capital Markets decreased their price objective on shares of GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. CICC Research assumed coverage on GE Vernova in a report on Wednesday, February 19th. They issued an "outperform" rating for the company. Citigroup increased their price target on shares of GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group raised their target price on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $348.72.

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GE Vernova Stock Performance

Shares of GEV traded down $7.64 during midday trading on Tuesday, hitting $335.93. 2,630,630 shares of the stock were exchanged, compared to its average volume of 3,518,216. The firm has a market cap of $92.68 billion and a P/E ratio of 60.42. GE Vernova Inc. has a 52-week low of $119.00 and a 52-week high of $447.50. The stock has a fifty day simple moving average of $351.71 and a 200 day simple moving average of $320.18.

GE Vernova (NYSE:GEV - Get Free Report) last released 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 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% compared to the same quarter last year. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase 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 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.