Daiwa Securities Group Inc. Raises Stock Holdings in GE Vernova Inc. (NYSE:GEV)

Daiwa Securities Group Inc. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,539 shares of the company’s stock after purchasing an additional 88 shares during the quarter. Daiwa Securities Group Inc.’s holdings in GE Vernova were worth $19,255,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC boosted its position in GE Vernova by 102.6% during 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 in the last quarter. Pineridge Advisors LLC lifted its position in shares of 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 in the last quarter. Covestor Ltd lifted its position in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of GE Vernova in the third quarter valued at approximately $31,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 77 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the topic of several research reports. 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 target price on the stock. Bank of America increased their price target on GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Evercore ISI increased their price target on GE Vernova from $385.00 to $390.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on GE Vernova from $374.00 to $436.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley increased their price target on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $349.02.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $269.89 on Tuesday. The business’s 50 day simple moving average is $358.84 and its 200-day simple moving average is $311.18. The firm has a market capitalization of $74.46 billion and a price-to-earnings ratio of 48.54. GE Vernova Inc. has a 12 month low of $115.00 and a 12 month high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.57). The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

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