GE Vernova Inc. (NYSE:GEV) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in GE Vernova Inc. (NYSE:GEV) by 7.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 487,923 shares of the company’s stock after selling 36,794 shares during the quarter. Ameriprise Financial Inc.’s holdings in GE Vernova were worth $160,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC raised its position in shares of GE Vernova by 5.4% in the third quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock worth $1,854,000 after acquiring an additional 374 shares during the period. Principal Financial Group Inc. raised its holdings in GE Vernova by 2.2% in the 3rd quarter. Principal Financial Group Inc. now owns 577,284 shares of the company’s stock worth $147,196,000 after purchasing an additional 12,323 shares during the period. CWA Asset Management Group LLC boosted its position in GE Vernova by 15.3% during the fourth quarter. CWA Asset Management Group LLC now owns 1,338 shares of the company’s stock worth $440,000 after purchasing an additional 178 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in GE Vernova by 1.7% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 2,691 shares of the company’s stock valued at $885,000 after purchasing an additional 45 shares during the period. Finally, Diversified Trust Co grew its holdings in GE Vernova by 61.9% in the fourth quarter. Diversified Trust Co now owns 15,079 shares of the company’s stock valued at $4,960,000 after purchasing an additional 5,768 shares during the period.

GE Vernova Stock Down 0.0 %

Shares of NYSE GEV opened at $401.09 on Wednesday. The business’s 50 day moving average is $325.61 and its two-hundred day moving average is $338.49. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50. The firm has a market cap of $109.47 billion and a price-to-earnings ratio of 72.14.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. The company had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. GE Vernova’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted ($0.47) EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 0.25%. GE Vernova’s dividend payout ratio is presently 14.41%.

Analyst Ratings Changes

GEV has been the topic of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 23rd. CICC Research assumed coverage on shares of GE Vernova in a report on Wednesday, February 19th. They set an “outperform” rating on the stock. Truist Financial set a $440.00 target price on shares of GE Vernova in a research note on Thursday, March 27th. Royal Bank of Canada decreased their price target on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group raised their target price on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.22.

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.