GE Vernova Inc. $GEV Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 145.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 65,991 shares of the company’s stock after purchasing an additional 39,064 shares during the quarter. Mackenzie Financial Corp’s holdings in GE Vernova were worth $34,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $1,809,220,000. AQR Capital Management LLC boosted its position in GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after acquiring an additional 892,549 shares during the period. Amundi grew its stake in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after purchasing an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the period. Finally, Nuveen LLC bought a new stake in shares of GE Vernova during the first quarter valued at about $223,556,000.

GE Vernova Price Performance

GEV stock opened at $597.59 on Monday. The firm has a market cap of $162.14 billion, a PE ratio of 97.33, a P/E/G ratio of 4.46 and a beta of 1.68. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The firm has a 50 day simple moving average of $592.17 and a 200 day simple moving average of $570.58.

GE Vernova (NYSE:GEV) last posted its quarterly 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 business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the firm posted ($0.35) EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced 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 of this dividend was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 16.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GEV shares. Glj Research increased their target price on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Redburn Partners set a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Finally, Morgan Stanley upped their target price on GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $607.81.

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.