Lazard Asset Management LLC Grows Stock Holdings in GE Vernova Inc. $GEV

Lazard Asset Management LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 136.5% during the 1st quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC boosted its stake in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares in the last quarter. Torren Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter worth approximately $26,000. Cornerstone Financial Management LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova in the 3rd quarter valued at approximately $25,000. Finally, ORG Wealth Partners LLC raised its holdings in 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 last quarter.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, 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 corporate insiders.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. Morgan Stanley raised their price target on GE Vernova from $1,250.00 to $1,350.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Guggenheim boosted their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird increased their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Barclays lifted their target price on shares of GE Vernova from $993.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Stock Performance

NYSE GEV opened at $997.11 on Tuesday. 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 Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The business has a fifty day moving average of $1,034.12 and a 200-day moving average of $925.93. The stock has a market cap of $265.56 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.72 and a beta of 1.09.

GE Vernova (NYSE:GEV) last posted 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). The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.86 EPS. As a group, analysts predict that GE Vernova Inc. will post 15.16 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova 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.