IFM Investors Pty Ltd Purchases 3,371 Shares of GE Vernova Inc. $GEV

Key Points

• IFM Investors Pty Ltd increased its stake in GE Vernova Inc. by 6.9% during Q2, owning approximately 51,953 shares valued at $27.49 million.
• GE Vernova's stock has seen a 12-month high of $677.29 and a low of $238.11, with a market cap of $166.45 billion.
• The company reported $1.86 EPS for the last quarter, exceeding expectations, with revenue of $9.11 billion, marking an 11.1% year-over-year increase.

IFM Investors Pty Ltd grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,953 shares of the company's stock after purchasing an additional 3,371 shares during the quarter. IFM Investors Pty Ltd's holdings in GE Vernova were worth $27,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Atlas Brown Inc. lifted its position in GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after buying an additional 19 shares in the last quarter. Grove Bank & Trust lifted its stake in GE Vernova by 16.0% in the second quarter. Grove Bank & Trust now owns 167 shares of the company's stock valued at $88,000 after buying an additional 23 shares during the period. Westover Capital Advisors LLC grew its holdings in GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares in the last quarter. SVB Wealth LLC grew its stake in shares of GE Vernova by 0.7% during the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after acquiring an additional 26 shares during the period. Finally, Chesley Taft & Associates LLC raised its holdings in shares of GE Vernova by 0.9% in the 2nd quarter. Chesley Taft & Associates LLC now owns 3,194 shares of the company's stock valued at $1,690,000 after acquiring an additional 27 shares in the last quarter.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GEV shares. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley raised their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Jefferies Financial Group lifted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. Wells Fargo & Company increased their target price on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets raised their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Price Performance

GEV traded up $13.61 during trading on Friday, reaching $624.61. 4,104,917 shares of the stock traded hands, compared to its average volume of 2,689,348. The stock's 50-day simple moving average is $617.11 and its two-hundred day simple moving average is $478.45. The stock has a market cap of $170.03 billion, a price-to-earnings ratio of 150.51, a price-to-earnings-growth ratio of 4.55 and a beta of 1.87. GE Vernova Inc. has a fifty-two week low of $242.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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. 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 for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid 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 was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) 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.