Ameriprise Financial Inc. Buys 56,158 Shares of GE Vernova Inc. $GEV

Key Points

• Ameriprise Financial Inc. increased its holdings in GE Vernova Inc. by 11.5%, now owning 544,081 shares valued at approximately $166,066,000.
• GE Vernova reported earnings of $1.86 per share for the most recent quarter, exceeding estimates, and revenue increased by 11.1% year-over-year to $9.11 billion.
• The company declared a quarterly dividend of $0.25 per share, with a current yield of 0.2%, and a payout ratio of 24.10%.

Ameriprise Financial Inc. raised its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 544,081 shares of the company's stock after purchasing an additional 56,158 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.20% of GE Vernova worth $166,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Westover Capital Advisors LLC lifted its position in GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares during the last quarter. Stonebridge Financial Group LLC lifted its position in GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after purchasing an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after purchasing an additional 30 shares in the last quarter. Hemington Wealth Management boosted its holdings in shares of GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after purchasing an additional 30 shares in the last quarter. Finally, Fulcrum Equity Management boosted its holdings in shares of GE Vernova by 3.6% in the 4th quarter. Fulcrum Equity Management now owns 886 shares of the company's stock worth $291,000 after purchasing an additional 31 shares in the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research reports. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and upped their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. TD Cowen increased their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Finally, Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Up 4.2%

Shares of GE Vernova stock traded up $25.36 on Tuesday, hitting $627.67. The stock had a trading volume of 2,685,326 shares, compared to its average volume of 3,543,640. GE Vernova Inc. has a one year low of $180.49 and a one year high of $677.29. The stock has a market cap of $170.87 billion, a price-to-earnings ratio of 151.25, a PEG ratio of 4.20 and a beta of 1.90. The stock's 50-day simple moving average is $578.85 and its two-hundred day simple moving average is $443.92.

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 the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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.