Harvest Fund Management Co. Ltd Purchases 12,335 Shares of GE Vernova Inc. (NYSE:GEV)

Harvest Fund Management Co. Ltd lifted its position in GE Vernova Inc. (NYSE:GEV) by 106.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,914 shares of the company’s stock after purchasing an additional 12,335 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in GE Vernova were worth $7,872,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC increased its holdings in shares of GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after purchasing an additional 39 shares during the period. Fairway Wealth LLC increased its stake in GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% in 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 during the last quarter. Asset Planning Inc bought a new position in GE Vernova in the fourth quarter valued at $35,000. Finally, Riggs Asset Managment Co. Inc. increased its stake in GE Vernova by 93.4% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 118 shares of the company’s stock valued at $39,000 after acquiring an additional 57 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently commented on GEV shares. Jefferies Financial Group increased their target price on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a research note on Friday, December 13th. The Goldman Sachs Group increased their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Royal Bank of Canada reduced their target price on GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday. CICC Research began coverage on GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating on the stock. Finally, Citigroup upped their price target on shares of GE Vernova from $361.00 to $437.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Seven 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’s stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $348.72.

GE Vernova Price Performance

Shares of GEV opened at $318.64 on Wednesday. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The company has a 50-day simple moving average of $354.04 and a two-hundred day simple moving average of $316.24. The firm has a market capitalization of $87.91 billion and a PE ratio of 57.31.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 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. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to buy up to 6.7% of its shares through open market purchases. Shares 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.