TD Asset Management Inc Sells 130,914 Shares of GE Vernova Inc. $GEV

TD Asset Management Inc lowered its position in GE Vernova Inc. (NYSE:GEV) by 14.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 801,083 shares of the company’s stock after selling 130,914 shares during the period. TD Asset Management Inc owned about 0.30% of GE Vernova worth $492,586,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GEV. Cozad Asset Management Inc. grew its stake in GE Vernova by 12.0% in the third quarter. Cozad Asset Management Inc. now owns 682 shares of the company’s stock valued at $419,000 after acquiring an additional 73 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in shares of GE Vernova by 4.8% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 438 shares of the company’s stock valued at $269,000 after purchasing an additional 20 shares in the last quarter. Aldebaran Capital LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at approximately $204,000. Patten Group Inc. increased its stake in GE Vernova by 39.0% during the 3rd quarter. Patten Group Inc. now owns 3,116 shares of the company’s stock worth $1,916,000 after purchasing an additional 874 shares in the last quarter. Finally, First American Trust FSB increased its stake in GE Vernova by 19.6% during the 3rd quarter. First American Trust FSB now owns 489 shares of the company’s stock worth $301,000 after purchasing an additional 80 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Glj Research boosted their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada increased their target price on GE Vernova from $761.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Oppenheimer reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 29th. Finally, Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova Price Performance

Shares of NYSE GEV opened at $879.25 on Wednesday. The business has a 50-day moving average of $711.80 and a 200-day moving average of $643.99. The stock has a market capitalization of $236.98 billion, a price-to-earnings ratio of 49.40, a PEG ratio of 3.31 and a beta of 1.67. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $879.89.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating the consensus estimate of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 earnings per share. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 11.24%.

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.