GE Vernova Inc. $GEV Shares Bought by Candriam S.C.A.

Candriam S.C.A. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 56.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 130,990 shares of the company’s stock after buying an additional 47,346 shares during the period. Candriam S.C.A.’s holdings in GE Vernova were worth $114,341,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Onyx Bridge Wealth Group LLC increased its position in GE Vernova by 1.3% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock valued at $635,000 after acquiring an additional 9 shares during the period. Red Door Wealth Management LLC lifted its position in GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after acquiring an additional 10 shares during the period. Advance Capital Management Inc. grew its stake in shares of GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after purchasing an additional 10 shares during the last quarter. Bell Investment Advisors Inc grew its stake in shares of GE Vernova by 5.2% in the 1st quarter. Bell Investment Advisors Inc now owns 221 shares of the company’s stock valued at $193,000 after purchasing an additional 11 shares during the last quarter. Finally, Sky Investment Group LLC increased its holdings in shares of GE Vernova by 0.5% in the first quarter. Sky Investment Group LLC now owns 2,405 shares of the company’s stock valued at $2,099,000 after purchasing an additional 12 shares during the period.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

GE Vernova Stock Performance

Shares of GEV stock opened at $1,090.64 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $1,040.14 and a 200-day simple moving average of $895.32. The company has a market cap of $293.08 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 3.97 and a beta of 1.09. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that GE Vernova Inc. will post 15.06 EPS for the current year.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. BMO Capital Markets upped their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Jefferies Financial Group dropped their price objective on shares of 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. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Profile

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.