Groupe la Francaise Increases Position in GE Vernova Inc. $GEV

Key Points

• Groupe la Francaise increased its holdings in GE Vernova Inc. by 110.3%, acquiring an additional 36,871 shares in the first quarter, bringing its total to 70,292 shares valued at approximately $21.3 million.
• Several institutional investors, including Strategies Wealth Advisors and Allstate Corp, have also increased their positions significantly in GE Vernova during the same period.
• Analysts have recently raised their price objectives for GE Vernova stock, with estimates ranging from $517 to $715, indicating a positive outlook for the company's future performance.

Groupe la Francaise grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 110.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,292 shares of the company's stock after purchasing an additional 36,871 shares during the period. Groupe la Francaise's holdings in GE Vernova were worth $21,296,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after buying an additional 799,388 shares during the period. Nuveen LLC acquired a new stake in shares of GE Vernova in the first quarter valued at $223,556,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock valued at $379,974,000 after purchasing an additional 690,513 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GEV. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and upped their price target for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Wells Fargo & Company raised their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets boosted their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Finally, TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

Shares of NYSE GEV traded up $25.36 during mid-day trading on Tuesday, hitting $627.67. 2,680,832 shares of the stock traded hands, compared to its average volume of 3,541,681. GE Vernova Inc. has a twelve month low of $180.49 and a twelve month high of $677.29. The company has a market cap of $170.87 billion, a PE ratio of 151.25, a price-to-earnings-growth ratio of 4.20 and a beta of 1.90. The firm has a 50 day simple moving average of $578.85 and a two-hundred day simple moving average of $443.92.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during 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%.GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was 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%.

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.