GE Vernova Inc. $GEV Shares Newly Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 589 shares of the company’s stock, valued at approximately $560,000.

Several other hedge funds have also recently modified their holdings of GEV. BlackRock Inc. acquired a new stake in GE Vernova in the 2nd quarter worth approximately $25,569,630,000. State Street Corp increased its stake in GE Vernova by 3.3% during the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company’s stock valued at $13,828,380,000 after purchasing an additional 370,842 shares in the last quarter. Bank of America Corp DE acquired a new position in GE Vernova during the 2nd quarter valued at approximately $2,961,612,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova in the second quarter worth $2,497,472,000. Finally, Jupiter Topco LLC purchased a new position in shares of GE Vernova in the second quarter worth $2,371,538,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Oppenheimer upped their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. lowered their price target on GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating for the company in a research report on Friday. Finally, BNP Paribas Exane dropped their price target on GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,165.87.

GE Vernova Stock Performance

GEV traded down $5.96 during trading on Tuesday, reaching $990.84. 1,055,988 shares of the company’s stock were exchanged, compared to its average volume of 2,624,336. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company’s fifty day simple moving average is $967.54 and its 200-day simple moving average is $1,000.09. The stock has a market capitalization of $263.89 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period last year, the company earned $1.86 earnings per share. As a group, research analysts predict that GE Vernova Inc. will post 15.03 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 5.72%.

GE Vernova Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.