Ameriprise Financial Inc. Raises Stake in GE Vernova Inc. $GEV

Ameriprise Financial Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 11.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 544,081 shares of the company’s stock after buying an additional 56,158 shares during the quarter. Ameriprise Financial Inc.’s holdings in GE Vernova were worth $166,066,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Navigoe LLC purchased a new position in shares of GE Vernova in the fourth quarter worth $27,000. Clarity Asset Management Inc. purchased a new position in shares of GE Vernova in the fourth quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the first quarter worth $27,000. Orion Capital Management LLC purchased a new position in shares of GE Vernova in the fourth quarter worth $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova in the first quarter worth $27,000.

GE Vernova Stock Performance

Shares of GEV opened at $606.1210 on Friday. GE Vernova Inc. has a fifty-two week low of $173.07 and a fifty-two week high of $677.29. The stock has a market capitalization of $165.00 billion, a PE ratio of 146.05, a P/E/G ratio of 4.20 and a beta of 1.90. The company’s fifty day moving average is $576.57 and its 200 day moving average is $441.89.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. The business’s revenue was up 11.1% 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 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Susquehanna boosted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Wolfe Research cut shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $560.21.

GE Vernova Profile

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.