iA Global Asset Management Inc. Has $9.77 Million Stock Position in GE Vernova Inc. (NYSE:GEV)

iA Global Asset Management Inc. cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,700 shares of the company’s stock after selling 3,680 shares during the quarter. iA Global Asset Management Inc.’s holdings in GE Vernova were worth $9,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in GE Vernova in the fourth quarter valued at about $206,000. GPS Wealth Strategies Group LLC raised its position in shares of GE Vernova by 1,126.0% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company’s stock valued at $294,000 after purchasing an additional 822 shares during the period. Yarbrough Capital LLC raised its position in shares of GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company’s stock valued at $949,000 after purchasing an additional 1,160 shares during the period. Legacy Bridge LLC increased its holdings in 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 acquiring an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company’s stock worth $3,247,000 after acquiring an additional 1,408 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. CICC Research began coverage on shares of GE Vernova in a research note on Wednesday, February 19th. They issued an “outperform” rating for the company. Citigroup increased 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. Bank of America increased their price target on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, TD Cowen started coverage on shares of GE Vernova in a report on Thursday, December 5th. They issued a “buy” rating and a $400.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Trading Up 5.2 %

GEV opened at $335.38 on Thursday. The company has a market cap of $92.53 billion and a price-to-earnings ratio of 60.32. The company’s 50 day moving average is $353.42 and its 200 day moving average is $316.38. GE Vernova Inc. has a 12-month low of $119.00 and a 12-month high of $447.50.

GE Vernova (NYSE:GEV) last released its 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). The firm had revenue of $10.56 billion for 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%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 10th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is 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.