GE Vernova Inc. (NYSE:GEV) Shares Acquired by Mackenzie Financial Corp

by · The Markets Daily

Mackenzie Financial Corp increased its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,927 shares of the company’s stock after acquiring an additional 2,119 shares during the period. Mackenzie Financial Corp’s holdings in GE Vernova were worth $8,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GEV. Brighton Jones LLC grew its holdings in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. American Assets Inc. acquired a new stake in GE Vernova during the 4th quarter valued at $658,000. Meeder Advisory Services Inc. grew its holdings in GE Vernova by 4.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 5,321 shares of the company’s stock valued at $1,750,000 after buying an additional 246 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in GE Vernova by 1,638.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,314,288 shares of the company’s stock valued at $432,309,000 after buying an additional 1,238,690 shares during the last quarter. Finally, Private Portfolio Partners LLC acquired a new stake in GE Vernova during the 4th quarter valued at $246,000.

GE Vernova Trading Up 0.9%

Shares of GE Vernova stock opened at $660.71 on Friday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $677.29. The stock has a market capitalization of $179.86 billion, a P/E ratio of 159.21, a PEG ratio of 4.53 and a beta of 1.86. The business’s fifty day moving average price is $526.57 and its 200 day moving average price is $413.87.

GE Vernova (NYSE:GEV – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Analyst Ratings Changes

GEV has been the topic of a number of analyst reports. TD Cowen increased their target price on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a report on Friday, July 25th. Royal Bank Of Canada reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, July 24th. Mizuho cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price on the stock. in a report on Monday. Bank of America increased their target price on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Finally, Susquehanna increased their target price on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $560.21.

Get Our Latest Research Report on GE Vernova

About GE Vernova

(Free Report)

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.

Further Reading

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