TD Asset Management Inc Acquires 5,155 Shares of GE Vernova Inc. $GEV

TD Asset Management Inc grew its position in GE Vernova Inc. (NYSE:GEV) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 931,997 shares of the company’s stock after buying an additional 5,155 shares during the period. TD Asset Management Inc owned 0.34% of GE Vernova worth $493,166,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GEV. AQR Capital Management LLC boosted its holdings in shares of GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after buying an additional 892,549 shares in the last quarter. Amundi boosted its holdings in shares of GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after buying an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after buying an additional 834,129 shares in the last quarter. Nuveen LLC bought a new stake in shares of GE Vernova in the 1st quarter valued at about $223,556,000. Finally, Wellington Management Group LLP boosted its holdings in shares of GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after buying an additional 684,794 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GEV shares. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research note on Monday, September 15th. Bank of America lifted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Mizuho cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price for the company. in a research note on Monday, July 28th. Finally, Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.65.

GE Vernova Trading Up 7.1%

Shares of NYSE GEV opened at $647.23 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a 50 day simple moving average of $619.32 and a two-hundred day simple moving average of $513.65. The stock has a market cap of $176.19 billion, a price-to-earnings ratio of 155.96, a PEG ratio of 4.38 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by company insiders.

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.