iA Global Asset Management Inc. Has $38.40 Million Stock Holdings in GE Vernova Inc. $GEV

iA Global Asset Management Inc. grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 109.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,993 shares of the company’s stock after buying an additional 23,013 shares during the period. iA Global Asset Management Inc.’s holdings in GE Vernova were worth $38,401,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Torren Management LLC bought a new stake in GE Vernova in the 4th quarter valued at about $26,000. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the third quarter worth approximately $25,000. ORG Wealth Partners LLC increased its holdings in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the period. Finally, Navalign LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at approximately $27,000.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. Erste Group Bank raised GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada upped their target price on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Citigroup increased their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,089.88.

GE Vernova Stock Performance

NYSE GEV opened at $1,172.73 on Wednesday. The firm’s 50 day simple moving average is $1,037.02 and its 200 day simple moving average is $872.20. The firm has a market capitalization of $315.14 billion, a price-to-earnings ratio of 34.16, a P/E/G ratio of 4.09 and a beta of 1.23. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 1 year low of $482.20 and a 1 year high of $1,181.95.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. As a group, research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 5.83%.

Insiders Place Their Bets

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

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.