Nomura Asset Management Co. Ltd. Increases Stake in GE Vernova Inc. (NYSE:GEV)

Nomura Asset Management Co. Ltd. raised its stake in GE Vernova Inc. (NYSE:GEV) by 87.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,167 shares of the company’s stock after acquiring an additional 69,735 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.05% of GE Vernova worth $49,066,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Mountaineer Partners Management LLC purchased a new stake in GE Vernova during the third quarter worth $2,507,296,000. Norges Bank purchased a new stake in shares of GE Vernova during the 4th quarter worth about $1,109,720,000. Raymond James Financial Inc. acquired a new stake in shares of GE Vernova during the 4th quarter valued at about $219,187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of GE Vernova by 34.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after purchasing an additional 460,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in GE Vernova by 284.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 617,559 shares of the company’s stock worth $203,134,000 after purchasing an additional 456,879 shares during the period.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $302.71 on Friday. The firm has a market capitalization of $83.52 billion and a PE ratio of 54.44. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The firm’s 50-day moving average is $345.68 and its two-hundred day moving average is $321.69.

GE Vernova (NYSE:GEV) 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). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have commented on the company. Evercore ISI raised their price objective on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays dropped their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. BMO Capital Markets reduced 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 report on Monday, March 3rd. Marathon Capitl upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $349.54.

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.