Invesco Ltd. Grows Stock Position in GE Vernova Inc. (NYSE:GEV)

Invesco Ltd. boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 42.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,555,275 shares of the company's stock after purchasing an additional 466,202 shares during the period. Invesco Ltd. owned about 0.56% of GE Vernova worth $511,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC grew its stake in GE Vernova by 102.6% in the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares in the last quarter. MRP Capital Investments LLC bought a new position in shares of GE Vernova during the 4th quarter worth $25,000. Fairway Wealth LLC increased its stake in shares of GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock valued at $26,000 after buying an additional 55 shares during the period. Pineridge Advisors LLC raised its holdings in shares of GE Vernova by 530.8% in the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Finally, Pinpoint Asset Management Ltd purchased a new stake in GE Vernova in the fourth quarter worth about $30,000.

GE Vernova Stock Up 3.6 %

Shares of GEV stock traded up $11.04 during mid-day trading on Friday, hitting $320.99. 2,799,595 shares of the stock were exchanged, compared to its average volume of 3,406,207. GE Vernova Inc. has a 52-week low of $128.25 and a 52-week high of $447.50. The company has a market cap of $87.74 billion and a PE ratio of 57.73. The firm has a fifty day moving average of $326.73 and a 200 day moving average of $328.18.

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GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova's payout ratio is presently 17.99%.

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Johnson Rice initiated coverage on shares of GE Vernova in a report on Friday, February 7th. They issued a "buy" rating and a $425.00 price target for the company. Citigroup boosted their price objective on shares of GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Robert W. Baird initiated coverage on GE Vernova in a research report on Thursday, February 13th. They set an "outperform" rating and a $448.00 target price on the stock. Royal Bank of Canada reduced their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group raised their price objective on GE Vernova from $446.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $348.80.

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.