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

Investment Management Corp of Ontario lifted its stake in GE Vernova Inc. (NYSE:GEV) by 25.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,993 shares of the company’s stock after acquiring an additional 8,329 shares during the period. Investment Management Corp of Ontario’s holdings in GE Vernova were worth $21,691,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in shares of GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock valued at $5,872,389,000 after purchasing an additional 206,650 shares during the period. London & Capital Asset Management Ltd boosted its stake in GE Vernova by 253.7% in the 2nd quarter. London & Capital Asset Management Ltd now owns 55,941 shares of the company’s stock worth $29,600,000 after purchasing an additional 40,126 shares during the period. Hurley Capital LLC grew its holdings in GE Vernova by 9,900.0% during the 2nd quarter. Hurley Capital LLC now owns 100 shares of the company’s stock valued at $53,000 after buying an additional 99 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of GE Vernova during the second quarter valued at about $294,000. Finally, Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of GE Vernova by 20.5% in the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 14,364 shares of the company’s stock worth $7,601,000 after buying an additional 2,439 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently commented on GEV. Barclays raised their price objective on shares of GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a research report on Thursday. Mizuho reduced their price target on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Glj Research upped their price target on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group reiterated a “hold” rating and issued a $654.00 price objective on shares of GE Vernova in a research report on Monday, October 27th. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $616.08.

GE Vernova Stock Performance

GE Vernova stock opened at $621.27 on Tuesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market cap of $168.56 billion, a P/E ratio of 101.18, a price-to-earnings-growth ratio of 4.70 and a beta of 1.71. The firm’s fifty day moving average price is $591.04 and its 200-day moving average price is $577.61.

GE Vernova (NYSE:GEV) last announced 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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the firm posted ($0.35) earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were given a dividend of $0.25 per share. The ex-dividend date was Monday, October 20th. This represents a $1.00 annualized dividend and a dividend 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.