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% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,465,804 shares of the company’s stock after purchasing an additional 78,650 shares during the period. Schroder Investment Management Group owned about 0.53% of GE Vernova worth $482,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MRP Capital Investments LLC bought a new position in shares of GE Vernova in the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares during the period. Fairway Wealth LLC increased 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 purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC raised its stake 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 purchasing an additional 69 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of GE Vernova in the 4th quarter worth about $35,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Barclays decreased their price objective on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Citigroup upped their price objective on GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. CICC Research started coverage on GE Vernova in a research report on Wednesday, February 19th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group upped their price target 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 investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Stock Down 0.1 %

NYSE GEV opened at $302.71 on Friday. The stock’s 50-day simple moving average is $345.68 and its two-hundred day simple moving average is $322.53. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The company has a market capitalization of $83.52 billion and a price-to-earnings ratio of 54.44.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) 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 quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.