Groupe la Francaise Reduces Stake in GE Vernova Inc. $GEV

Groupe la Francaise reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 44.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,172 shares of the company’s stock after selling 31,120 shares during the quarter. Groupe la Francaise’s holdings in GE Vernova were worth $20,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova in the 1st quarter worth about $912,000. Pines Wealth Management LLC purchased a new stake in GE Vernova in the second quarter worth about $408,000. Resona Asset Management Co. Ltd. grew its holdings in GE Vernova by 8.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC bought a new position in shares of GE Vernova during the second quarter valued at approximately $253,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $458,000.

Analysts Set New Price Targets

Several research firms recently weighed in on GEV. Redburn Partners set a $475.00 price target on GE Vernova in a research note on Wednesday, October 15th. HSBC boosted their target price on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Citigroup dropped their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, UBS Group set a $710.00 price objective on shares of GE Vernova in a research note on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Price Performance

GE Vernova stock opened at $601.72 on Wednesday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The business’s fifty day moving average is $590.20 and its 200 day moving average is $572.86. The stock has a market capitalization of $163.26 billion, a PE ratio of 98.00, a price-to-earnings-growth ratio of 4.29 and a beta of 1.71.

GE Vernova (NYSE:GEV) last posted 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 net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the company posted ($0.35) EPS. GE Vernova’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were issued a $0.25 dividend. The ex-dividend date was Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 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.