Ameriprise Financial Inc. Has $398.10 Million Stock Holdings in GE Vernova Inc. $GEV

Ameriprise Financial Inc. increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 0.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 647,330 shares of the company’s stock after acquiring an additional 1,072 shares during the period. Ameriprise Financial Inc. owned about 0.24% of GE Vernova worth $398,101,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GEV. Norges Bank bought a new stake in shares of GE Vernova during the 2nd quarter worth approximately $1,809,220,000. Capital World Investors grew its holdings in GE Vernova by 1,907.5% during the third quarter. Capital World Investors now owns 2,156,197 shares of the company’s stock worth $1,325,842,000 after purchasing an additional 2,048,792 shares during the period. Arrowstreet Capital Limited Partnership increased its position in GE Vernova by 273.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after buying an additional 1,104,747 shares during the last quarter. Franklin Resources Inc. increased its position in GE Vernova by 170.0% during the third quarter. Franklin Resources Inc. now owns 1,175,729 shares of the company’s stock worth $722,956,000 after buying an additional 740,339 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in GE Vernova by 771.3% in the second quarter. Qube Research & Technologies Ltd now owns 763,226 shares of the company’s stock valued at $403,861,000 after buying an additional 675,629 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of a number of recent analyst reports. Wolfe Research raised GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Rothschild & Co Redburn raised GE Vernova from a “sell” rating to a “buy” rating and boosted their target price for the stock from $560.00 to $1,100.00 in a report on Monday, March 9th. Citigroup increased their price target on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Barclays reaffirmed an “overweight” rating and set a $849.00 price objective on shares of GE Vernova in a research report on Monday, February 2nd. Finally, Oppenheimer reiterated an “outperform” rating on shares of GE Vernova in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold 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 $831.29.

GE Vernova Trading Up 2.6%

Shares of GE Vernova stock opened at $825.99 on Tuesday. The company has a 50 day moving average of $762.83 and a 200-day moving average of $665.47. The company has a market cap of $222.63 billion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 3.20 and a beta of 1.44. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $894.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The company had revenue of $10.96 billion for the quarter, compared to analyst estimates of $10.21 billion. During the same quarter last year, the company posted $1.73 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

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.