FORA Capital LLC Purchases New Holdings in GE Vernova Inc. $GEV

Key Points

• FORA Capital LLC has acquired a new stake in GE Vernova Inc., investing approximately $16.61 million for 54,394 shares, making it the fund's fourth largest position.
• Analysts have issued mixed ratings for GE Vernova, with Mizuho downgrading the stock from "outperform" to "neutral," while Robert W. Baird upgraded its price target to $706.00.
• GE Vernova reported earnings of $1.86 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.25, yielding 0.2% annually.

FORA Capital LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 54,394 shares of the company's stock, valued at approximately $16,605,000. GE Vernova comprises approximately 1.7% of FORA Capital LLC's portfolio, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the period. TD Asset Management Inc increased its position in GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after buying an additional 799,388 shares during the period. Nuveen LLC bought a new stake in GE Vernova in the first quarter valued at $223,556,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock valued at $379,974,000 after acquiring an additional 690,513 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. Glj Research started coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley boosted their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Down 3.0%

GEV traded down $19.09 during trading on Friday, reaching $614.60. The stock had a trading volume of 2,262,430 shares, compared to its average volume of 3,514,895. The stock has a 50 day moving average of $587.17 and a two-hundred day moving average of $448.15. The firm has a market capitalization of $167.31 billion, a price-to-earnings ratio of 148.10, a price-to-earnings-growth ratio of 4.30 and a beta of 1.90. GE Vernova Inc. has a 1-year low of $185.35 and a 1-year high of $677.29.

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

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. 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 dividend payout ratio is currently 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The stock was 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 owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

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.