Ameriprise Financial Inc. Cuts Holdings in GE Vernova Inc. (NYSE:GEV)

Ameriprise Financial Inc. lessened its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 487,923 shares of the company's stock after selling 36,794 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.18% of GE Vernova worth $160,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in GE Vernova by 3.4% in the fourth quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after purchasing an additional 814,155 shares during the period. Capital International Investors grew its stake in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after acquiring an additional 2,994,660 shares during the period. Geode Capital Management LLC grew its stake in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock valued at $1,898,814,000 after acquiring an additional 195,828 shares during the period. Norges Bank purchased a new position in GE Vernova during the fourth quarter valued at $1,109,720,000. Finally, Northern Trust Corp grew its position in shares of GE Vernova by 15.0% in the fourth quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after purchasing an additional 343,837 shares during the period.

GE Vernova Trading Up 1.0 %

Shares of NYSE GEV traded up $4.03 during midday trading on Friday, reaching $398.03. 2,383,020 shares of the stock were exchanged, compared to its average volume of 3,314,932. The stock has a 50 day moving average price of $330.33 and a 200-day moving average price of $340.61. The company has a market capitalization of $108.64 billion and a P/E ratio of 71.59. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm had revenue of $8.03 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the company earned ($0.47) EPS. GE Vernova's revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Susquehanna boosted their price target on shares of GE Vernova from $370.00 to $399.00 and gave the stock a "positive" rating in a research note on Thursday, April 24th. The Goldman Sachs Group lifted their target price on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 24th. Johnson Rice assumed coverage on GE Vernova in a report on Friday, February 7th. They set a "buy" rating and a $425.00 price target on the stock. Finally, BMO Capital Markets decreased their price objective on GE Vernova from $471.00 to $420.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Six analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $369.22.

GE Vernova Company 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.