Mackenzie Financial Corp Purchases 2,119 Shares of GE Vernova Inc. (NYSE:GEV)

Key Points

• Mackenzie Financial Corp increased its stake in GE Vernova Inc. by 8.5% in the first quarter, owning 26,927 shares worth $8,220,000.
• GE Vernova reported an EPS of $1.86 for the latest quarter, exceeding the consensus estimate by $0.23, with revenues of $9.11 billion.
• The company announced a quarterly dividend of $0.25 per share, payable on August 18th, representing an annual yield of 0.2%.

Mackenzie Financial Corp boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,927 shares of the company's stock after purchasing an additional 2,119 shares during the period. Mackenzie Financial Corp's holdings in GE Vernova were worth $8,220,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its stake in shares of GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after acquiring an additional 817 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of GE Vernova by 79.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after acquiring an additional 98,034 shares during the last quarter. Grandview Asset Management LLC raised its stake in shares of GE Vernova by 48.8% during the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company's stock valued at $656,000 after acquiring an additional 705 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of GE Vernova during the first quarter valued at about $328,000. Finally, GAMMA Investing LLC raised its stake in shares of GE Vernova by 8.4% during the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after acquiring an additional 542 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on GEV. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Barclays upped their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. TD Cowen upped their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Bank of America upped their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Ten equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Performance

Shares of NYSE:GEV traded down $3.63 on Friday, reaching $656.66. The company's stock had a trading volume of 3,074,814 shares, compared to its average volume of 2,826,011. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $677.29. The company has a market cap of $178.76 billion, a P/E ratio of 158.23, a PEG ratio of 4.56 and a beta of 1.90. The company has a 50-day simple moving average of $530.40 and a 200 day simple moving average of $415.77.

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, 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 business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period last year, the company posted $4.65 EPS. The business's revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 24.10%.

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.