Tokio Marine Asset Management Co. Ltd. Has $2.80 Million Stake in GE Vernova Inc. (NYSE:GEV)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,513 shares of the company’s stock after purchasing an additional 191 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in GE Vernova were worth $2,800,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GEV. Waverton Investment Management Ltd lifted its stake in GE Vernova by 10.0% in the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock valued at $185,459,000 after buying an additional 66,455 shares in the last quarter. Register Financial Advisors LLC bought a new stake in GE Vernova in the 4th quarter valued at $206,000. Hanlon Investment Management Inc. acquired a new position in GE Vernova in the 3rd quarter worth $1,101,000. Atria Investments Inc increased its holdings in GE Vernova by 127.0% during the 3rd quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,847 shares in the last quarter. Finally, Fractal Investments LLC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at about $1,530,000.

GE Vernova Trading Down 2.7 %

GE Vernova stock opened at $372.70 on Monday. The company has a market capitalization of $102.74 billion and a price-to-earnings ratio of 67.03. The stock’s 50 day moving average is $355.29 and its 200-day moving average is $279.25. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 for 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, equities research analysts predict that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

GE Vernova announced that its board has authorized a share repurchase plan on Tuesday, December 10th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Barclays raised their price target on shares of GE Vernova from $420.00 to $487.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective on the stock. Morgan Stanley raised their target price on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Evercore ISI boosted their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $342.94.

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.