Forsta AP Fonden Acquires 16,300 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Forsta AP Fonden increased its holdings in GE Vernova Inc. by 26.3% during the first quarter, now owning 78,231 shares valued at $23.88 million.
• Several institutional investors have also significantly raised their stakes in GE Vernova, with GAMMA Investing LLC increasing its position by over 32,984% in the same period.
• Analysts have set new price targets for GE Vernova, with JPMorgan Chase raising their objective from $620 to $715 and maintaining an "overweight" rating.

Forsta AP Fonden lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 26.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,231 shares of the company's stock after acquiring an additional 16,300 shares during the quarter. Forsta AP Fonden's holdings in GE Vernova were worth $23,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GEV. Capital International Investors raised its holdings in GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC raised its position in GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the period. TD Asset Management Inc lifted its position in shares of GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after buying an additional 799,388 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of GE Vernova by 148.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock valued at $379,974,000 after purchasing an additional 690,513 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after acquiring an additional 622,730 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on GEV. Morgan Stanley increased their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. TD Cowen raised their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a research report on Monday, July 28th. Ten analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Price Performance

GEV opened at $646.22 on Friday. GE Vernova Inc. has a 12 month low of $165.05 and a 12 month high of $677.29. The business has a 50-day moving average of $544.98 and a two-hundred day moving average of $422.95. The stock has a market capitalization of $175.91 billion, a price-to-earnings ratio of 155.71, a price-to-earnings-growth ratio of 4.59 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The company's revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.