Meiji Yasuda Asset Management Co Ltd. Sells 4,286 Shares of GE Vernova Inc. (NYSE:GEV)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 25.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,692 shares of the company’s stock after selling 4,286 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in GE Vernova were worth $4,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC bought a new position in GE Vernova in the 3rd quarter worth $2,507,296,000. Raymond James Financial Inc. bought a new position in GE Vernova in the fourth quarter worth about $219,187,000. FMR LLC lifted its holdings in GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock worth $6,131,677,000 after buying an additional 584,208 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in GE Vernova by 34.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock worth $462,073,000 after buying an additional 460,834 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in GE Vernova by 284.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock valued at $203,134,000 after acquiring an additional 456,879 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Baird R W raised GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial lifted their price target on shares of GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Guggenheim raised GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Wednesday, March 5th. Robert W. Baird assumed coverage on shares of GE Vernova in a research report on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $348.72.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $335.93 on Wednesday. The stock has a market cap of $92.68 billion and a P/E ratio of 60.42. The stock’s fifty day moving average is $350.80 and its 200 day moving average is $321.14. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50.

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

GE Vernova declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors 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.