iA Global Asset Management Inc. Buys 23,013 Shares of GE Vernova Inc. $GEV

iA Global Asset Management Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 109.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,993 shares of the company’s stock after acquiring an additional 23,013 shares during the quarter. iA Global Asset Management Inc.’s holdings in GE Vernova were worth $38,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova in the 3rd quarter valued at approximately $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at approximately $26,000. ORG Wealth Partners LLC grew its stake in shares of GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after buying an additional 29 shares in the last quarter. Finally, Navalign LLC bought a new position in shares of GE Vernova in the fourth quarter valued at $27,000.

Analysts Set New Price Targets

Several research firms have issued reports on GEV. Sanford C. Bernstein began coverage on shares of GE Vernova in a research report on Tuesday, June 16th. They set an “outperform” rating and a $1,206.00 price target on the stock. Citigroup lifted their price objective on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. TD Cowen boosted their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets upped their target price on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Finally, Susquehanna set a $1,300.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,089.88.

GE Vernova Stock Up 6.4%

GEV stock opened at $1,172.73 on Wednesday. GE Vernova Inc. has a 1-year low of $482.20 and a 1-year high of $1,181.95. The business’s 50 day simple moving average is $1,037.02 and its 200 day simple moving average is $872.20. 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 firm has a market capitalization of $315.14 billion, a PE ratio of 34.16, a PEG ratio of 4.09 and a beta of 1.23.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results 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. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

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.