Korea Investment CORP Has $87.18 Million Stock Position in GE Vernova Inc. $GEV

Key Points

• Korea Investment CORP has increased its holdings in GE Vernova Inc. by 36.5% during Q1, owning 285,580 shares worth approximately $87.18 million at the end of the reporting period.
• Several institutional investors have also recently acquired positions in GE Vernova, with new stakes valued at around $27,000 to $30,000.
• GE Vernova has a current consensus rating of "Moderate Buy" from analysts, with an average target price of $560.21 per share, following mixed upgrades and downgrades from research firms.

Korea Investment CORP grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 36.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 285,580 shares of the company's stock after acquiring an additional 76,394 shares during the period. Korea Investment CORP owned about 0.10% of GE Vernova worth $87,182,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in GE Vernova by 29.4% during the 4th 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 last quarter. American Assets Inc. purchased a new stake in GE Vernova in the fourth quarter valued at approximately $658,000. Guggenheim Capital LLC grew its position in GE Vernova by 63.5% in the 4th quarter. Guggenheim Capital LLC now owns 6,077 shares of the company's stock valued at $1,999,000 after acquiring an additional 2,361 shares in the last quarter. GeoWealth Management LLC boosted its position in GE Vernova by 22.4% in the 4th quarter. GeoWealth Management LLC now owns 2,448 shares of the company's stock valued at $805,000 after buying an additional 448 shares during the period. Finally, First Trust Advisors LP increased its holdings in GE Vernova by 12.6% during the 4th quarter. First Trust Advisors LP now owns 174,149 shares of the company's stock worth $57,283,000 after purchasing an additional 19,531 shares during the period.

GE Vernova Stock Up 0.3%

Shares of NYSE:GEV traded up $1.7290 during trading on Wednesday, hitting $604.8590. 3,569,357 shares of the company traded hands, compared to its average volume of 3,569,323. GE Vernova Inc. has a one year low of $173.07 and a one year high of $677.29. The business's fifty day moving average is $569.18 and its 200-day moving average is $436.80. The stock has a market capitalization of $164.66 billion, a price-to-earnings ratio of 145.75, a PEG ratio of 4.32 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the business posted $4.65 EPS. GE Vernova's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio is 24.10%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GEV. Morgan Stanley raised their price target on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Barclays raised their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective on the stock. in a research report on Monday, July 28th. Finally, Glj Research initiated coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Four research 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's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.