IFM Investors Pty Ltd Has $47.95 Million Stock Holdings in GE Vernova Inc. $GEV

IFM Investors Pty Ltd boosted its position in GE Vernova Inc. (NYSE:GEV) by 3.4% during the first quarter, HoldingsChannel.com reports. The fund owned 54,931 shares of the company’s stock after buying an additional 1,786 shares during the quarter. IFM Investors Pty Ltd’s holdings in GE Vernova were worth $47,949,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GEV. Auto Owners Insurance Co raised its holdings in shares of GE Vernova by 110,973.4% during the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock worth $2,278,224,000 after buying an additional 34,826,773 shares in the last quarter. Norges Bank acquired a new stake in GE Vernova in the fourth quarter valued at about $2,283,114,000. Northwestern Mutual Wealth Management Co. boosted its stake in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company’s stock valued at $1,603,114,000 after buying an additional 2,406,326 shares in the last quarter. Capital World Investors grew its position in GE Vernova by 1,907.5% in the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock valued at $1,325,842,000 after acquiring an additional 2,048,792 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in GE Vernova by 2,802.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company’s stock valued at $1,051,407,000 after acquiring an additional 1,553,295 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GEV shares. Royal Bank Of Canada increased their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Citigroup upped their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. TD Cowen raised their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company boosted their target price on shares of GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Stock Performance

NYSE:GEV opened at $1,172.73 on Wednesday. The stock has a market cap of $315.14 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 4.09 and a beta of 1.23. 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’s 50-day moving average is $1,037.02 and its 200-day moving average is $872.20. GE Vernova Inc. has a 1-year low of $482.20 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Announces Dividend

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

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.