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

Harvest Fund Management Co. Ltd grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 106.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,914 shares of the company's stock after buying an additional 12,335 shares during the period. Harvest Fund Management Co. Ltd's holdings in GE Vernova were worth $7,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Register Financial Advisors LLC acquired a new stake in GE Vernova during the 4th quarter valued at $206,000. GPS Wealth Strategies Group LLC lifted its stake 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 during the last quarter. Yarbrough Capital LLC lifted its stake in shares of GE Vernova by 67.2% during 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 last quarter. Legacy Bridge LLC boosted its holdings in shares of GE Vernova by 77.0% during 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 grew its stake in GE Vernova by 16.6% in the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock valued at $3,247,000 after buying an additional 1,408 shares during the last quarter.

GE Vernova Trading Down 0.8 %

GEV traded down $2.62 during trading on Friday, reaching $334.21. 3,010,670 shares of the company's stock were exchanged, compared to its average volume of 3,519,873. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50. The firm has a fifty day moving average price of $352.15 and a two-hundred day moving average price of $318.32. The stock has a market capitalization of $92.21 billion and a PE ratio of 60.11.

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GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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 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 expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. William Blair restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on GE Vernova from $374.00 to $436.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Robert W. Baird began coverage on GE Vernova in a report on Thursday, February 13th. They issued an "outperform" rating and a $448.00 price objective on the stock. Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 target price for the company. Finally, CICC Research started coverage on shares of GE Vernova in a research report on Wednesday, February 19th. They issued an "outperform" rating for the company. 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 company. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.72.

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.