Mackenzie Financial Corp Raises Stock Holdings in 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 position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,927 shares of the company's stock after purchasing an additional 2,119 shares during the quarter. Mackenzie Financial Corp's holdings in GE Vernova were worth $8,220,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GEV. Brighton Jones LLC boosted its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares in the last quarter. American Assets Inc. purchased a new stake in GE Vernova during the fourth quarter worth $658,000. Meeder Advisory Services Inc. raised its holdings in shares of GE Vernova by 4.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 5,321 shares of the company's stock worth $1,750,000 after acquiring an additional 246 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of GE Vernova by 1,638.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company's stock worth $432,309,000 after acquiring an additional 1,238,690 shares during the last quarter. Finally, Private Portfolio Partners LLC acquired a new position in shares of GE Vernova in the fourth quarter worth $246,000.

GE Vernova Price Performance

GEV stock traded down $3.63 during trading on Friday, reaching $656.66. 3,074,814 shares of the stock traded hands, compared to its average volume of 2,826,011. The business's 50 day moving average price is $530.40 and its 200-day moving average price is $415.77. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $677.29. The firm has a market capitalization of $178.76 billion, a PE ratio of 135.36, a P/E/G ratio of 4.54 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping 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 company 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 business earned $4.65 earnings per share. The company's revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GEV. Citigroup boosted their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Robert W. Baird boosted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and boosted their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. Finally, TD Cowen boosted their price target on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Ten research 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. According to MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average price target of $560.21.

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.