Taikang Asset Management Hong Kong Co Ltd Buys New Stake in GE Vernova Inc. (NYSE:GEV)

Taikang Asset Management Hong Kong Co Ltd purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 6,100 shares of the company’s stock, valued at approximately $2,006,000.

A number of other large investors have also made changes to their positions in the business. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% during the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after buying an additional 39 shares during the last quarter. MRP Capital Investments LLC acquired a new stake in GE Vernova in the fourth quarter worth about $25,000. Fairway Wealth LLC grew its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its holdings in shares of GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in shares of GE Vernova by 175.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 77 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on GEV. Barclays cut their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group upped their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 price objective on the stock. Finally, New Street Research set a $380.00 target price on GE Vernova in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $348.72.

GE Vernova Trading Up 3.0 %

Shares of GE Vernova stock opened at $343.98 on Tuesday. GE Vernova Inc. has a twelve month low of $119.00 and a twelve month high of $447.50. The firm has a market capitalization of $94.91 billion and a PE ratio of 61.87. The firm’s 50-day moving average price is $351.71 and its 200 day moving average price is $320.18.

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). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. The business’s revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has authorized a stock buyback program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management 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.