TD Waterhouse Canada Inc. Sells 19,762 Shares of GE Vernova Inc. $GEV

TD Waterhouse Canada Inc. cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 34.7% during the 2nd quarter, Holdings Channel reports. The firm owned 37,243 shares of the company’s stock after selling 19,762 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in GE Vernova were worth $18,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC increased its position in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares during the last quarter. Amundi boosted its stake in shares of GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares during the period. TD Asset Management Inc raised its stake in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after acquiring an additional 799,388 shares during the period. Finally, Nuveen LLC bought a new stake in GE Vernova in the 1st quarter valued at $223,556,000.

Analyst Ratings Changes

Several research firms have commented on GEV. HSBC upped their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Susquehanna upped their price target on shares of GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada boosted their price objective on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Finally, Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a research note on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Stock Performance

Shares of GEV opened at $596.14 on Thursday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a market cap of $161.74 billion, a price-to-earnings ratio of 97.09, a PEG ratio of 4.13 and a beta of 1.68. The business’s fifty day moving average is $598.44 and its 200-day moving average is $561.28.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

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.