IFM Investors Pty Ltd Acquires 1,786 Shares of GE Vernova Inc. $GEV

Key Points

• IFM Investors Pty Ltd increased its GE Vernova stake by 3.4% in the first quarter, buying 1,786 additional shares. The fund now holds 54,931 shares valued at about $47.95 million.
• Wall Street remains constructive on GE Vernova, with analysts assigning a consensus “Moderate Buy” rating and an average price target of $1,089.88. Several firms recently raised or reiterated bullish targets, including RBC, Jefferies, and Goldman Sachs.
• GE Vernova reported strong quarterly results, posting EPS of $17.44 versus expectations of $1.95 and revenue of $9.34 billion, up 17% year over year. The company also announced a $0.50 quarterly dividend, payable July 14.

IFM Investors Pty Ltd grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,931 shares of the company's stock after buying an additional 1,786 shares during the period. IFM Investors Pty Ltd's holdings in GE Vernova were worth $47,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 during the period. Schnieders Capital Management LLC. raised its position in shares of GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock valued at $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $258,000. Ossiam bought a new stake in shares of GE Vernova during the 2nd quarter worth about $42,000. Finally, Nebula Research & Development LLC boosted its holdings in shares of GE Vernova by 23.9% during the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after buying an additional 323 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently commented on GEV shares. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research note on Thursday, April 23rd. Citigroup boosted their price objective on GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. Royal Bank Of Canada upped their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Jefferies Financial Group lowered their target price on GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating on the stock in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $1,089.88.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $1,172.73 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $315.14 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 4.09 and a beta of 1.23. GE Vernova Inc. has a twelve month low of $482.20 and a twelve month high of $1,181.95. The company has a 50-day simple moving average of $1,037.02 and a two-hundred day simple moving average of $872.20.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The business's revenue was up 17.0% compared to the same quarter last year. Analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is 5.83%.

Insiders Place Their Bets

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on 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 in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

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.

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