Federation des caisses Desjardins du Quebec Boosts Position in GE Vernova Inc. $GEV

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in GE Vernova Inc. by 23.6% in Q1, bringing its total holdings to 21,708 shares valued at $6.63 million.
• GE Vernova recently reported an EPS of $1.86, surpassing the consensus estimate of $1.63, with revenues up 11.1% year-over-year at $9.11 billion.
• The company has set a target for FY 2025 earnings per share at $6.59, with analysts rating the stock as a Moderate Buy with a consensus target price of $560.21.

Federation des caisses Desjardins du Quebec increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 23.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,708 shares of the company's stock after acquiring an additional 4,149 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in GE Vernova were worth $6,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the period. American Assets Inc. purchased a new position in shares of GE Vernova in the fourth quarter valued at $658,000. Aptus Capital Advisors LLC boosted its stake in GE Vernova by 15.2% in the 4th quarter. Aptus Capital Advisors LLC now owns 3,221 shares of the company's stock worth $1,060,000 after purchasing an additional 425 shares during the period. Benjamin Edwards Inc. boosted its stake in GE Vernova by 1.7% in the 4th quarter. Benjamin Edwards Inc. now owns 2,535 shares of the company's stock worth $834,000 after purchasing an additional 42 shares during the period. Finally, Cary Street Partners Financial LLC bought a new position in GE Vernova in the 4th quarter worth about $747,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on GEV. Susquehanna lifted their price target on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and lifted their price objective for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $573.75.

GE Vernova Stock Performance

NYSE GEV traded down $16.90 on Friday, reaching $581.92. 3,473,078 shares of the stock traded hands, compared to its average volume of 2,574,632. The company has a fifty day moving average price of $597.95 and a 200-day moving average price of $458.00. The company has a market cap of $158.41 billion, a price-to-earnings ratio of 140.22, a PEG ratio of 4.02 and a beta of 1.87. GE Vernova Inc. has a 12 month low of $193.38 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

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.