Connor Clark & Lunn Investment Management Ltd. Purchases 2,879 Shares of GE Vernova Inc. $GEV

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 92.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,982 shares of the company’s stock after acquiring an additional 2,879 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GE Vernova were worth $3,165,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after buying an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP raised its position in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of GE Vernova by 12.9% during the first quarter. Invesco Ltd. now owns 1,755,219 shares of the company’s stock valued at $535,833,000 after acquiring an additional 199,944 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEV. BMO Capital Markets boosted their price objective on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Susquehanna boosted their price target on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research note on Thursday, October 23rd. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research note on Monday, September 15th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Trading Up 3.5%

GEV stock opened at $577.64 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market cap of $156.72 billion, a PE ratio of 94.08, a P/E/G ratio of 4.15 and a beta of 1.68. The business’s 50-day moving average price is $600.86 and its two-hundred day moving average price is $555.94.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 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 business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the business earned ($0.35) EPS. The company’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. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by corporate 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.