Connor Clark & Lunn Investment Management Ltd. Grows Stake in GE Vernova Inc. (NYSE:GEV)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,106 shares of the company’s stock after acquiring an additional 81 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GE Vernova were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in GE Vernova in the 4th quarter worth approximately $206,000. GPS Wealth Strategies Group LLC lifted its holdings in GE Vernova by 1,126.0% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock worth $294,000 after buying an additional 822 shares during the period. Yarbrough Capital LLC lifted its holdings in GE Vernova by 67.2% in the 4th quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock worth $949,000 after buying an additional 1,160 shares during the period. Legacy Bridge LLC lifted its holdings in GE Vernova by 77.0% in the 4th quarter. Legacy Bridge LLC now owns 10,982 shares of the company’s stock worth $3,612,000 after buying an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in GE Vernova by 16.6% in the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after buying an additional 1,408 shares during the period.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GEV shares. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They issued a “buy” rating and a $400.00 target price for the company. Robert W. Baird started coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 target price for the company. The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Barclays decreased their target price on GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Evercore ISI increased their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Seven 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Price Performance

GEV stock opened at $336.46 on Friday. The company has a market cap of $92.83 billion and a P/E ratio of 60.51. GE Vernova Inc. has a 1 year low of $119.00 and a 1 year high of $447.50. The stock’s fifty day moving average price is $352.82 and its 200-day moving average price is $316.52.

GE Vernova (NYSE:GEV) last released 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 company’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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

GE Vernova 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.