TD Asset Management Inc Has $492.59 Million Position in GE Vernova Inc. $GEV

TD Asset Management Inc decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 801,083 shares of the company’s stock after selling 130,914 shares during the quarter. TD Asset Management Inc’s holdings in GE Vernova were worth $492,586,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Synergy Asset Management LLC boosted its holdings in GE Vernova by 300.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after purchasing an additional 1,413 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of GE Vernova by 25.3% in the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after buying an additional 3,278 shares in the last quarter. Kercheville Advisors LLC boosted its stake in shares of GE Vernova by 238.3% in the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after buying an additional 3,455 shares during the period. Rakuten Investment Management Inc. acquired a new stake in GE Vernova during the third quarter worth approximately $18,601,000. Finally, Vanguard Group Inc. grew its position in GE Vernova by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after buying an additional 150,892 shares in the last quarter.

GE Vernova Stock Up 5.7%

Shares of GE Vernova stock opened at $879.25 on Wednesday. The stock has a market cap of $236.98 billion, a price-to-earnings ratio of 49.40, a P/E/G ratio of 3.31 and a beta of 1.67. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $879.89. The company’s fifty day moving average is $711.80 and its 200 day moving average is $643.99.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 EPS. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. Citigroup raised their target price on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. BMO Capital Markets reissued an “outperform” rating and set a $785.00 target price on shares of GE Vernova in a research note on Thursday, January 29th. Finally, TD Cowen increased their target price on shares of GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $788.24.

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.