Groupama Asset Managment Buys 2,340 Shares of GE Vernova Inc. $GEV

Groupama Asset Managment raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 119,648 shares of the company’s stock after buying an additional 2,340 shares during the quarter. GE Vernova makes up about 1.5% of Groupama Asset Managment’s holdings, making the stock its 21st largest holding. Groupama Asset Managment’s holdings in GE Vernova were worth $104,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEV. World Investment Advisors grew its position in shares of GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after acquiring an additional 2,241 shares during the period. Merit Financial Group LLC raised its holdings in GE Vernova by 17.4% in the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after purchasing an additional 2,230 shares during the period. Vest Financial LLC raised its holdings in GE Vernova by 56.7% in the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after purchasing an additional 23,956 shares during the period. Riverbend Wealth Management LLC bought a new position in GE Vernova in the 4th quarter worth $567,000. Finally, RiverFront Investment Group LLC lifted its position in GE Vernova by 239.2% during the fourth quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares in the last quarter.

GE Vernova Price Performance

GEV stock opened at $990.30 on Friday. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company’s fifty day moving average price is $1,028.05 and its 200-day moving average price is $932.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The company has a market capitalization of $263.75 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 15.46 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.72%.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEV. BMO Capital Markets boosted their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research note on Monday, April 27th. Susquehanna set a $1,300.00 price objective on GE Vernova in a research report on Thursday, April 23rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

About GE Vernova

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.