AE Wealth Management LLC Raises Position in GE Vernova Inc. (NYSE:GEV)

AE Wealth Management LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,684 shares of the company's stock after buying an additional 3,892 shares during the period. AE Wealth Management LLC's holdings in GE Vernova were worth $5,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in GE Vernova by 3.4% during the 4th 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 lifted its position in GE Vernova by 25.3% during the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock valued at $4,886,164,000 after purchasing an additional 2,994,660 shares during the period. Geode Capital Management LLC lifted its position in GE Vernova by 3.5% during 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 purchasing an additional 195,828 shares during the period. Norges Bank acquired a new position in GE Vernova during the 4th quarter valued at about $1,109,720,000. Finally, Northern Trust Corp lifted its position in GE Vernova by 15.0% during the 4th 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 3.3%

Shares of NYSE:GEV traded up $20.63 during mid-day trading on Friday, reaching $644.60. The stock had a trading volume of 3,598,352 shares, compared to its average volume of 3,205,434. The company has a market cap of $175.47 billion, a P/E ratio of 155.33, a price-to-earnings-growth ratio of 4.66 and a beta of 1.86. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $651.22. The business's 50 day moving average price is $510.80 and its 200 day moving average price is $406.08.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm earned $4.65 earnings per share. GE Vernova's revenue was up 11.1% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.16%. GE Vernova's dividend payout ratio (DPR) is presently 14.41%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Truist Financial set a $440.00 price target on shares of GE Vernova in a research report on Thursday, March 27th. BMO Capital Markets boosted their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, UBS Group started coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $540.96.

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.