GE Vernova Inc. $GEV Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 136.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 89,021 shares of the company’s stock after purchasing an additional 51,373 shares during the quarter. Lazard Asset Management LLC’s holdings in GE Vernova were worth $77,706,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. World Investment Advisors raised its holdings in shares of GE Vernova by 19.9% in the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock valued at $8,821,000 after buying an additional 2,241 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of GE Vernova by 17.4% during the fourth quarter. Merit Financial Group LLC now owns 15,080 shares of the company’s stock worth $9,856,000 after buying an additional 2,230 shares during the last quarter. Vest Financial LLC grew its holdings in shares of GE Vernova by 56.7% during the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock worth $43,260,000 after buying an additional 23,956 shares during the last quarter. Riverbend Wealth Management LLC purchased a new position in shares of GE Vernova during the fourth quarter worth about $567,000. Finally, RiverFront Investment Group LLC increased its position in GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after acquiring an additional 1,545 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on GEV. Susquehanna set a $1,300.00 price objective on GE Vernova in a research note on Thursday, April 23rd. Barclays lifted their target price on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Jefferies Financial Group reissued a “buy” rating on shares of GE Vernova in a report on Monday. BMO Capital Markets upped their price target on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Oppenheimer increased their price target on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

GE Vernova Trading Down 1.7%

NYSE GEV opened at $997.11 on Tuesday. The stock has a market capitalization of $265.56 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.72 and a beta of 1.09. GE Vernova Inc. has a 52-week low of $530.16 and a 52-week high of $1,195.94. The firm has a 50-day moving average price of $1,034.12 and a 200 day moving average price of $925.93. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the previous year, the business earned $1.86 EPS. GE Vernova’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities research analysts expect that GE Vernova Inc. will post 15.16 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.72%.

GE Vernova Company Profile

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.