BOCHK Asset Management Ltd Boosts Stock Holdings in GE Vernova Inc. (NYSE:GEV)

BOCHK Asset Management Ltd raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 41.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,580 shares of the company’s stock after buying an additional 10,380 shares during the period. GE Vernova comprises approximately 3.6% of BOCHK Asset Management Ltd’s portfolio, making the stock its 11th largest position. BOCHK Asset Management Ltd’s holdings in GE Vernova were worth $11,703,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mountaineer Partners Management LLC bought a new position in shares of GE Vernova during the third quarter valued at about $2,507,296,000. International Assets Investment Management LLC raised its stake in shares of GE Vernova by 35,238.2% during the third quarter. International Assets Investment Management LLC now owns 1,435,792 shares of the company’s stock valued at $366,098,000 after acquiring an additional 1,431,729 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of GE Vernova by 83.1% during the third quarter. WCM Investment Management LLC now owns 2,560,248 shares of the company’s stock valued at $639,704,000 after acquiring an additional 1,161,901 shares during the last quarter. FMR LLC raised its stake in shares of GE Vernova by 2.5% during the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after acquiring an additional 584,208 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GE Vernova by 34.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,812,192 shares of the company’s stock valued at $462,073,000 after acquiring an additional 460,834 shares during the last quarter.

GE Vernova Stock Up 7.5 %

NYSE:GEV opened at $354.80 on Wednesday. The company’s 50 day moving average price is $353.77 and its 200-day moving average price is $275.94. GE Vernova Inc. has a 52 week low of $115.00 and a 52 week high of $447.50. The stock has a market cap of $97.80 billion and a price-to-earnings ratio of 63.81.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.70 billion. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.61 earnings per share for the current year.

GE Vernova announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.28%. The ex-dividend date was Friday, December 20th. GE Vernova’s dividend payout ratio is currently 17.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GEV shares. HSBC reissued a “hold” rating and issued a $255.00 price target (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research note on Tuesday. Evercore ISI increased their price target on shares of GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Finally, TD Cowen started coverage on shares of GE Vernova in a research note on Thursday, December 5th. They issued a “buy” rating and a $400.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $342.94.

About GE Vernova

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.