Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in GE Vernova Inc. (NYSE:GEV)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,106 shares of the company’s stock after purchasing an additional 81 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GE Vernova were worth $1,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GEV. FMR LLC lifted its position in shares of GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares during the last quarter. State Street Corp lifted its position in shares of GE Vernova by 1.1% during the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $2,660,695,000 after buying an additional 118,184 shares during the last quarter. Mountaineer Partners Management LLC purchased a new position in shares of GE Vernova during the 3rd quarter valued at $2,507,296,000. Geode Capital Management LLC lifted its position in shares of GE Vernova by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of GE Vernova by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after buying an additional 71,067 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on GEV shares. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They set a “buy” rating and a $400.00 price target on the stock. Marathon Capitl upgraded GE Vernova to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Robert W. Baird started coverage on GE Vernova in a research note on Thursday, February 13th. They set an “outperform” rating and a $448.00 price objective on the stock. Finally, New Street Research set a $380.00 price objective on GE Vernova in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $348.72.

GE Vernova Trading Up 0.2 %

Shares of GE Vernova stock opened at $336.46 on Friday. The firm has a market capitalization of $92.83 billion and a PE ratio of 60.51. The business’s 50-day moving average price is $352.82 and its 200-day moving average price is $316.52. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last issued its earnings results 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 company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business’s revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.