TD Asset Management Inc Grows Holdings in GE Vernova Inc. (NYSE:GEV)

Key Points

• TD Asset Management Inc significantly increased its holdings in GE Vernova Inc. by 627.2% during the first quarter, acquiring a total of 926,842 shares valued at approximately $282.9 million.
• Analysts remain bullish on GE Vernova, with major firms like Goldman Sachs, Barclays, and JPMorgan Chase raising their price targets, reflecting a strong overall sentiment towards the stock.
• GE Vernova reported a quarterly earnings beat with an EPS of $1.86, higher than the expected $1.63, and a revenue of $9.11 billion, marking an 11.1% year-over-year growth.

TD Asset Management Inc grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 627.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 926,842 shares of the company's stock after buying an additional 799,388 shares during the quarter. TD Asset Management Inc owned 0.34% of GE Vernova worth $282,946,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. HB Wealth Management LLC lifted its stake in GE Vernova by 92.8% during the first quarter. HB Wealth Management LLC now owns 11,470 shares of the company's stock worth $3,502,000 after purchasing an additional 5,521 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in GE Vernova by 1,056.3% during the first quarter. Mediolanum International Funds Ltd now owns 56,889 shares of the company's stock worth $17,233,000 after purchasing an additional 51,969 shares during the last quarter. First Heartland Consultants Inc. lifted its stake in GE Vernova by 20.0% during the first quarter. First Heartland Consultants Inc. now owns 1,336 shares of the company's stock worth $408,000 after purchasing an additional 223 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in GE Vernova by 1.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 55,533 shares of the company's stock worth $16,953,000 after purchasing an additional 733 shares during the last quarter. Finally, AM Investment Strategies LLC lifted its stake in GE Vernova by 1.0% during the first quarter. AM Investment Strategies LLC now owns 9,818 shares of the company's stock worth $2,997,000 after purchasing an additional 100 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on 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 GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. Barclays raised their price objective on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, TD Cowen increased their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $540.96.

GE Vernova Stock Performance

Shares of GEV opened at $644.60 on Friday. The firm has a market capitalization of $175.93 billion, a price-to-earnings ratio of 155.33, a price-to-earnings-growth ratio of 4.66 and a beta of 1.86. GE Vernova Inc. has a one year low of $150.01 and a one year high of $651.22. The stock's fifty day moving average is $510.80 and its 200-day moving average is $406.08.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for 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%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.65 earnings per share. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is currently 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.

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