Axiom Investors LLC DE Makes New Investment in GE Vernova Inc. (NYSE:GEV)

Axiom Investors LLC DE purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 374,417 shares of the company’s stock, valued at approximately $123,157,000. GE Vernova comprises about 0.9% of Axiom Investors LLC DE’s portfolio, making the stock its 26th largest holding. Axiom Investors LLC DE owned approximately 0.14% of GE Vernova as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the third quarter valued at approximately $2,507,296,000. Norges Bank bought a new stake in GE Vernova during the 4th quarter valued at $1,109,720,000. Raymond James Financial Inc. purchased a new stake in shares of GE Vernova during the fourth quarter valued at about $219,187,000. Arrowstreet Capital Limited Partnership boosted its stake in GE Vernova by 555.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 569,738 shares of the company’s stock valued at $187,404,000 after acquiring an additional 482,787 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased 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 buying an additional 456,879 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several research analyst reports. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective for the company. Bank of America boosted their price objective on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Evercore ISI raised their target price on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Seven research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $349.54.

GE Vernova Price Performance

Shares of GEV stock opened at $302.71 on Monday. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The business’s 50 day simple moving average is $345.68 and its 200 day simple moving average is $323.33. The stock has a market capitalization of $83.52 billion and a PE ratio of 54.44.

GE Vernova (NYSE:GEV) last posted 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 the consensus estimate of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova declared that its Board of Directors has approved a share 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 often a sign that the company’s board of directors 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.