IFM Investors Pty Ltd Acquires 4,598 Shares of GE Vernova Inc. (NYSE:GEV)

IFM Investors Pty Ltd grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,034 shares of the company's stock after purchasing an additional 4,598 shares during the quarter. IFM Investors Pty Ltd's holdings in GE Vernova were worth $15,885,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GEV. Norges Bank acquired a new stake in shares of GE Vernova in the fourth quarter worth $1,109,720,000. Capital International Investors grew its stake in shares of GE Vernova by 25.3% in the fourth quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after acquiring an additional 2,994,660 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake 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, FMR LLC grew its stake in shares of GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock worth $8,177,803,000 after acquiring an additional 814,155 shares during the last quarter.

GE Vernova Stock Performance

Shares of NYSE:GEV traded up $12.28 on Friday, hitting $517.35. The stock had a trading volume of 1,809,150 shares, compared to its average volume of 3,313,458. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $532.59. The firm's 50 day moving average price is $461.19 and its 200-day moving average price is $383.19. The company has a market capitalization of $141.20 billion, a price-to-earnings ratio of 74.55, a price-to-earnings-growth ratio of 3.98 and a beta of 1.86.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.54. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. The business had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the business posted ($0.47) earnings per share. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.19%. GE Vernova's dividend payout ratio is 14.41%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Citigroup decreased their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley lifted their price target on shares of GE Vernova from $422.00 to $511.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $440.04.

About GE Vernova

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.