AIA Group Ltd Takes Position in GE Vernova Inc. (NYSE:GEV)

AIA Group Ltd bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,145 shares of the company’s stock, valued at approximately $4,324,000.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on GEV shares. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 23rd. Johnson Rice started coverage on GE Vernova in a research note on Friday, February 7th. They set a “buy” rating and a $425.00 price target on the stock. Royal Bank of Canada reduced their price objective on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. CICC Research initiated coverage on GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group increased their target price on GE Vernova from $391.00 to $413.00 and gave the stock a “buy” rating in a report on Thursday. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $349.54.

GE Vernova Trading Down 0.1 %

GE Vernova stock opened at $302.71 on Monday. The firm has a market cap of $83.52 billion and a price-to-earnings ratio of 54.44. GE Vernova Inc. has a 12 month low of $119.00 and a 12 month high of $447.50. The stock has a fifty day simple moving average of $345.68 and a two-hundred day simple moving average of $323.33.

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 analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

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