Groupama Asset Managment Acquires 2,340 Shares of GE Vernova Inc. $GEV

Key Points

• Groupama Asset Management increased its GE Vernova stake by 2%, acquiring 2,340 shares to hold 119,648 shares valued at approximately $104.4 million. Other institutional investors also initiated or expanded positions during the quarter.
• Analysts remain broadly bullish, with GE Vernova receiving a “Moderate Buy” consensus rating and an average price target of $1,133.15. Several firms recently raised their targets, including Robert W. Baird to $1,400.
• GE Vernova reported quarterly revenue of $11.1 billion, exceeding estimates, but adjusted EPS of $2.47 fell short of the $3.17 consensus. Meanwhile, CEO Victor Abate and CAO Matthew Potvin sold shares, while the company maintained a quarterly dividend of $0.50 per share.

Groupama Asset Managment increased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,648 shares of the company's stock after acquiring an additional 2,340 shares during the quarter. GE Vernova comprises approximately 1.5% of Groupama Asset Managment's portfolio, making the stock its 21st biggest position. Groupama Asset Managment's holdings in GE Vernova were worth $104,441,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. WNY Asset Management LLC purchased a new stake in shares of GE Vernova in the 1st quarter worth about $463,000. Segall Bryant & Hamill LLC purchased a new position in shares of GE Vernova during the first quarter valued at about $2,461,000. Verus Capital Partners LLC raised its stake in GE Vernova by 249.7% in the first quarter. Verus Capital Partners LLC now owns 2,025 shares of the company's stock worth $1,768,000 after buying an additional 1,446 shares in the last quarter. Compass Capital Management Inc. raised its stake in GE Vernova by 2.9% in the first quarter. Compass Capital Management Inc. now owns 13,636 shares of the company's stock worth $11,903,000 after buying an additional 383 shares in the last quarter. Finally, Essential Partners LLC lifted its stake in shares of GE Vernova by 4.0% in the 1st quarter. Essential Partners LLC now owns 3,375 shares of the company's stock valued at $2,946,000 after purchasing an additional 130 shares during the period.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GEV shares. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. Robert W. Baird lifted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. TD Cowen upped their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein raised their price objective on GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $1,133.15.

GE Vernova Price Performance

Shares of NYSE GEV opened at $990.30 on Friday. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The firm has a market cap of $263.75 billion, a P/E ratio of 28.34, a PEG ratio of 3.53 and a beta of 1.09. The company has a 50 day moving average of $1,028.05 and a 200 day moving average of $932.76. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business's revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $1.86 earnings per share. As a group, research analysts expect that GE Vernova Inc. will post 15.46 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova's dividend payout ratio is presently 5.72%.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.