Rathbones Group PLC Boosts Stake in GE Vernova Inc. (NYSE:GEV)

Rathbones Group PLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,425 shares of the company’s stock after acquiring an additional 392 shares during the period. Rathbones Group PLC’s holdings in GE Vernova were worth $19,547,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GEV. Cedar Mountain Advisors LLC raised 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 valued at $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the 4th quarter worth $25,000. Fairway Wealth LLC raised its position in shares of GE Vernova by 220.0% during the 4th quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC lifted its holdings in shares of GE Vernova by 530.8% during the 4th quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new position in GE Vernova in the fourth quarter worth $30,000.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GEV shares. Guggenheim upgraded GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price target on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a report on Friday, December 13th. New Street Research set a $380.00 target price on GE Vernova in a research report on Wednesday, March 5th. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Baird R W upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, February 13th. Seven equities 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $349.20.

GE Vernova Stock Performance

GEV stock opened at $284.92 on Tuesday. GE Vernova Inc. has a fifty-two week low of $125.86 and a fifty-two week high of $447.50. The company has a market capitalization of $77.88 billion and a price-to-earnings ratio of 51.24. The business’s 50 day moving average price is $333.17 and its two-hundred day moving average price is $326.26.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has authorized a share buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are 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.