Investment Management Corp of Ontario Purchases 8,329 Shares of GE Vernova Inc. $GEV

Investment Management Corp of Ontario boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 25.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,993 shares of the company’s stock after purchasing an additional 8,329 shares during the quarter. Investment Management Corp of Ontario’s holdings in GE Vernova were worth $21,691,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. WFA Asset Management Corp acquired a new position in shares of GE Vernova during the second quarter valued at about $29,000. 1248 Management LLC acquired a new stake in shares of GE Vernova in the 1st quarter worth about $31,000. Howard Hughes Medical Institute bought a new position in GE Vernova in the 2nd quarter valued at about $31,000. Saudi Central Bank acquired a new position in GE Vernova during the 1st quarter valued at about $33,000. Finally, Ransom Advisory Ltd acquired a new position in GE Vernova during the 1st quarter valued at about $33,000.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GEV shares. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research report on Monday, September 15th. HSBC raised their price objective on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Redburn Partners set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, Glj Research increased their target price on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $616.08.

GE Vernova Trading Down 1.6%

Shares of NYSE GEV opened at $621.27 on Tuesday. The stock has a fifty day simple moving average of $591.04 and a two-hundred day simple moving average of $577.61. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market cap of $168.56 billion, a price-to-earnings ratio of 101.18, a price-to-earnings-growth ratio of 4.70 and a beta of 1.71.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 16.29%.

GE Vernova 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.