Securian Asset Management Inc. Has $4.88 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

Securian Asset Management Inc. reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,838 shares of the company’s stock after selling 314 shares during the quarter. Securian Asset Management Inc.’s holdings in GE Vernova were worth $4,881,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GEV. Armstrong Advisory Group Inc. boosted its holdings in GE Vernova by 3.5% during the fourth quarter. Armstrong Advisory Group Inc. now owns 798 shares of the company’s stock worth $262,000 after purchasing an additional 27 shares during the last quarter. Hengehold Capital Management LLC boosted its holdings in GE Vernova by 2.4% during the fourth quarter. Hengehold Capital Management LLC now owns 1,231 shares of the company’s stock worth $405,000 after purchasing an additional 29 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in GE Vernova by 1.6% during the fourth quarter. AdvisorNet Financial Inc now owns 1,859 shares of the company’s stock worth $611,000 after purchasing an additional 30 shares during the last quarter. Mutual Advisors LLC boosted its holdings in GE Vernova by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 2,701 shares of the company’s stock worth $888,000 after purchasing an additional 31 shares during the last quarter. Finally, WASHINGTON TRUST Co boosted its holdings in GE Vernova by 1.9% during the fourth quarter. WASHINGTON TRUST Co now owns 1,702 shares of the company’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter.

GE Vernova Stock Up 5.0 %

NYSE GEV opened at $283.52 on Wednesday. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The business’s fifty day simple moving average is $357.93 and its 200-day simple moving average is $311.88. The firm has a market cap of $78.22 billion and a PE ratio of 50.99.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova announced that its Board of Directors has initiated a share repurchase program on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

GEV has been the topic of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $453.00 price target on shares of GE Vernova in a report on Tuesday, January 28th. Guggenheim raised shares of GE Vernova from a “neutral” rating to a “buy” rating and set a $380.00 price objective on the stock in a research report on Wednesday, March 5th. Evercore ISI lifted their price objective 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. Citigroup lifted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, TD Cowen began coverage on shares of GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective on the stock. 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 company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $349.02.

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.