Groupe la Francaise Sells 31,120 Shares of GE Vernova Inc. $GEV

Groupe la Francaise lowered its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 44.3% in the 2nd quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinkerton Wealth LLC purchased a new stake in GE Vernova during the second quarter valued at approximately $2,884,000. Grove Street Fiduciary LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $339,000. Arrowstreet Capital Limited Partnership increased its stake in shares of GE Vernova by 273.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after purchasing an additional 1,104,747 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of GE Vernova by 91.6% in the 2nd quarter. Quantbot Technologies LP now owns 43,625 shares of the company’s stock worth $23,084,000 after purchasing an additional 20,853 shares in the last quarter. Finally, Van Hulzen Asset Management LLC raised its holdings in GE Vernova by 4.9% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 1,526 shares of the company’s stock worth $807,000 after purchasing an additional 71 shares during the period.

Wall Street Analyst Weigh In

Several research firms have issued reports on GEV. Cowen reissued a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Susquehanna boosted their price objective on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada increased their target price on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Morgan Stanley lifted their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Price Performance

GEV stock opened at $601.72 on Wednesday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The business has a 50 day simple moving average of $590.20 and a two-hundred day simple moving average of $572.86. The company has a market capitalization of $163.26 billion, a price-to-earnings ratio of 98.00, a PEG ratio of 4.29 and a beta of 1.71.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 previous year, the business earned ($0.35) EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were paid 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 payout ratio is presently 16.29%.

About GE Vernova

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.