Taikang Asset Management Hong Kong Co Ltd Invests $2.01 Million in GE Vernova Inc. (NYSE:GEV)

Taikang Asset Management Hong Kong Co Ltd purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,100 shares of the company’s stock, valued at approximately $2,006,000.

Several other institutional investors have also added to or reduced their stakes in the company. MRP Capital Investments LLC purchased a new stake in shares of GE Vernova during the 4th quarter worth approximately $25,000. Cedar Mountain Advisors LLC raised its stake in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock valued at $25,000 after purchasing an additional 39 shares in the last quarter. Fairway Wealth LLC lifted its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC lifted its position in 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 purchasing an additional 69 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in shares of GE Vernova in the 4th quarter worth $35,000.

GE Vernova Price Performance

NYSE:GEV opened at $343.98 on Tuesday. The company has a 50-day moving average of $351.71 and a 200 day moving average of $320.18. GE Vernova Inc. has a 1-year low of $119.00 and a 1-year high of $447.50. The firm has a market cap of $94.91 billion and a PE ratio of 61.87.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion during 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%. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GEV shares. Barclays lowered their price target on shares of GE Vernova from $487.00 to $427.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. The Goldman Sachs Group raised their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their target price on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Robert W. Baird initiated coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Finally, BMO Capital Markets cut their price objective on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $348.72.

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.