Advisors Asset Management Inc. Increases Position in GE Vernova Inc. $GEV

Key Points

• Advisors Asset Management Inc. has increased its stake in GE Vernova Inc. by 56.8% during the first quarter, now holding a total of 29,293 shares valued at approximately $8.94 million.
• Several brokerages have upgraded their ratings and price targets for GE Vernova, with Morgan Stanley increasing its target from $511 to $675 and BMO Capital Markets raising it from $590 to $690.
• GE Vernova announced a quarterly dividend of $0.25, which reflects a 0.2% yield and a payout ratio of 24.10% as reported following its latest earnings announcement.

Advisors Asset Management Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 56.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 29,293 shares of the company's stock after purchasing an additional 10,612 shares during the quarter. Advisors Asset Management Inc.'s holdings in GE Vernova were worth $8,943,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova in the first quarter valued at about $912,000. Resona Asset Management Co. Ltd. lifted its position in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. purchased a new stake in shares of GE Vernova during the first quarter worth $458,000. Golden State Wealth Management LLC lifted its stake in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in GE Vernova by 8.5% during the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after purchasing an additional 2,942 shares during the last quarter.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.15% of the company's stock.

GE Vernova Stock Performance

Shares of GEV stock traded up $20.55 during mid-day trading on Monday, hitting $602.63. 1,423,606 shares of the stock were exchanged, compared to its average volume of 3,513,990. GE Vernova Inc. has a 12-month low of $197.38 and a 12-month high of $677.29. The stock has a market capitalization of $164.05 billion, a price-to-earnings ratio of 144.99, a P/E/G ratio of 4.02 and a beta of 1.88. The stock's fifty day simple moving average is $597.95 and its two-hundred day simple moving average is $458.69.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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 return on equity of 13.23% and a net margin of 3.16%.The company 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 company posted $4.65 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $573.75.

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.