CIBC Asset Management Inc Purchases 36,328 Shares of GE Vernova Inc. $GEV

Key Points

• CIBC Asset Management significantly increased its GE Vernova stake in the fourth quarter, buying 36,328 additional shares and lifting its holdings by 95.4% to 74,412 shares valued at about $48.6 million.
• Wall Street sentiment remains bullish, with several firms raising price targets; the consensus rating is Moderate Buy and the average target is $1,090.76.
• GE Vernova reported strong quarterly results, beating EPS and revenue estimates, while also announcing a $0.50 quarterly dividend and attracting attention from investors on growth tied to AI-driven power demand and electrification.

CIBC Asset Management Inc lifted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 95.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 74,412 shares of the company's stock after purchasing an additional 36,328 shares during the quarter. CIBC Asset Management Inc's holdings in GE Vernova were worth $48,633,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. RFG Advisory LLC grew its holdings in GE Vernova by 2.1% during the 4th quarter. RFG Advisory LLC now owns 634 shares of the company's stock worth $414,000 after acquiring an additional 13 shares during the last quarter. Voisard Asset Management Group Inc. grew its holdings in GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock worth $376,000 after acquiring an additional 15 shares during the last quarter. Clean Yield Group grew its holdings in GE Vernova by 2.2% during the 4th quarter. Clean Yield Group now owns 685 shares of the company's stock worth $448,000 after acquiring an additional 15 shares during the last quarter. Rossmore Private Capital grew its holdings in GE Vernova by 2.8% during the 4th quarter. Rossmore Private Capital now owns 559 shares of the company's stock worth $365,000 after acquiring an additional 15 shares during the last quarter. Finally, Forefront Wealth Partners LLC grew its holdings in GE Vernova by 1.5% during the 4th quarter. Forefront Wealth Partners LLC now owns 997 shares of the company's stock worth $652,000 after acquiring an additional 15 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the topic of a number of research analyst reports. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Weiss Ratings raised shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Royal Bank Of Canada increased their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Finally, TD Cowen increased their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,090.76.

Key GE Vernova News

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova is benefiting from rising demand for gas turbines and power infrastructure tied to AI data centers, with articles highlighting backlog growth, strong Power orders, and potential upside from the broader electrification buildout. Can GE Vernova Benefit From the Global Gas Turbine Supply Crunch?
• Positive Sentiment: Analysts and market commentary continue to point to GE Vernova as a key beneficiary of AI-powered nuclear and non-tech infrastructure spending, which supports the stock’s longer-term growth story. Watch 3 AI-Powered Nuclear Energy OEMs Amid Double-Digit Price Upside
• Positive Sentiment: Recent coverage also notes strong earnings, improving free cash flow, and new orders related to data center electrification, reinforcing confidence in GE Vernova’s operating momentum. Can GE Vernova (GEV) Power AI Data Center Demand While Managing Wind and Grid Headwinds?
• Neutral Sentiment: The stock is also drawing attention from investors and analysts, but that interest appears to reflect broad market focus rather than a single new catalyst. GE Vernova Inc. (GEV) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: A court ruling upheld an injunction requiring GE Vernova to continue turbine work at Vineyard Wind, keeping a project-related legal and execution issue in focus. Judge upholds injunction requiring GE Vernova to continue turbine work at Vineyard Wind
• Negative Sentiment: Insider selling may also be weighing on sentiment, as CEO Victor Abate sold shares in a disclosed SEC filing. SEC Form 4 Filing

GE Vernova Stock Down 1.1%

Shares of NYSE GEV opened at $959.30 on Thursday. The firm has a market capitalization of $257.78 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.63 and a beta of 1.23. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 1 year low of $458.65 and a 1 year high of $1,181.95. The firm's 50-day moving average is $1,002.41 and its 200-day moving average is $816.16.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Equities analysts expect that GE Vernova Inc. will post 14.84 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is 5.83%.

Insider Activity

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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