Invesco Ltd. Has $535.83 Million Position in GE Vernova Inc. (NYSE:GEV)

Key Points

• Invesco Ltd. increased its stock holdings in GE Vernova Inc. by 12.9% in the first quarter, owning approximately 1.76 million shares valued at $535.83 million.
• Analysts have raised their target prices for GE Vernova significantly, with **Susquehanna** projecting a new target price of $736.00, reflecting a positive outlook for the stock.
• GE Vernova also announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.2%, with the dividend payout ratio at 24.10%.

Invesco Ltd. grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,755,219 shares of the company's stock after purchasing an additional 199,944 shares during the period. Invesco Ltd. owned about 0.64% of GE Vernova worth $535,833,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GEV. Berger Financial Group Inc grew its position in GE Vernova by 11.6% in the first quarter. Berger Financial Group Inc now owns 888 shares of the company's stock valued at $271,000 after purchasing an additional 92 shares in the last quarter. True North Advisors LLC grew its position in GE Vernova by 0.6% in the first quarter. True North Advisors LLC now owns 5,963 shares of the company's stock valued at $1,820,000 after purchasing an additional 38 shares in the last quarter. Benjamin Edwards Inc. grew its position in GE Vernova by 7.5% in the first quarter. Benjamin Edwards Inc. now owns 2,726 shares of the company's stock valued at $832,000 after purchasing an additional 191 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in GE Vernova by 41.8% in the first quarter. Frank Rimerman Advisors LLC now owns 6,426 shares of the company's stock valued at $1,962,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Koss Olinger Consulting LLC acquired a new stake in GE Vernova in the first quarter valued at $564,000.

Wall Street Analyst Weigh In

GEV has been the subject of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. UBS Group initiated coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Finally, Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Trading Up 1.1%

GEV stock traded up $7.33 during mid-day trading on Tuesday, hitting $658.09. The stock had a trading volume of 1,803,332 shares, compared to its average volume of 2,834,080. GE Vernova Inc. has a 52 week low of $173.07 and a 52 week high of $677.29. The firm has a market capitalization of $179.15 billion, a P/E ratio of 134.18, a P/E/G ratio of 4.50 and a beta of 1.90. The firm has a fifty day simple moving average of $551.84 and a 200 day simple moving average of $426.07.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates 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 was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, July 21st will be given a $0.25 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is 24.10%.

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.