Amundi Has $496.01 Million Stock Position in GE Vernova Inc. $GEV

Key Points

• Amundi has increased its holdings in GE Vernova Inc. by 109.0% in the first quarter, owning 1,665,980 shares valued at approximately $496 million.
• GE Vernova reported $1.86 EPS in its last quarterly earnings, surpassing estimates and showing 11.1% revenue growth year-over-year.
• The company recently declared a quarterly dividend of $0.25 per share, equating to an annual yield of 0.2%, with a payout ratio of 24.10%.

Amundi grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 109.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,665,980 shares of the company's stock after purchasing an additional 868,927 shares during the period. Amundi owned about 0.61% of GE Vernova worth $496,013,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Westover Capital Advisors LLC lifted its holdings in shares of GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares during the last quarter. SVB Wealth LLC lifted its holdings in shares of GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after purchasing an additional 26 shares during the last quarter. Stonebridge Financial Group LLC lifted its holdings in shares of GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after purchasing an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after purchasing an additional 30 shares during the last quarter. Finally, Hemington Wealth Management lifted its holdings in shares of GE Vernova by 20.3% during the first quarter. Hemington Wealth Management now owns 178 shares of the company's stock valued at $54,000 after purchasing an additional 30 shares during the last quarter.

GE Vernova Trading Down 2.8%

GEV stock traded down $16.90 during mid-day trading on Friday, hitting $581.92. The stock had a trading volume of 3,473,078 shares, compared to its average volume of 2,574,632. GE Vernova Inc. has a 1-year low of $193.38 and a 1-year high of $677.29. The company has a fifty day moving average of $597.95 and a 200 day moving average of $457.43. The stock has a market capitalization of $158.41 billion, a price-to-earnings ratio of 140.22, a PEG ratio of 4.14 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for 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 firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Wells Fargo & Company upped their price target on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $573.75.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, 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 SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

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.