GE Vernova Inc. $GEV Stock: Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in GE Vernova Inc. (NYSE:GEV) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 40,688 shares of the company’s stock after purchasing an additional 1,247 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in GE Vernova were worth $38,674,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC raised its stake in shares of GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth about $32,000. Strategic Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the 2nd quarter worth about $35,000. Pingora Partners LLC acquired a new stake in GE Vernova in the 2nd quarter valued at about $36,000. Finally, IMG Wealth Management Inc. acquired a new stake in GE Vernova in the 2nd quarter valued at about $39,000.

Analyst Ratings Changes

Several research firms have weighed in on GEV. Jefferies Financial Group restated a “buy” rating and set a $1,185.00 target price (up from $1,155.00) on shares of GE Vernova in a report on Thursday, September 17th. President Capital lifted their target price on shares of GE Vernova from $1,368.00 to $1,398.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. The Goldman Sachs Group upgraded shares of GE Vernova from a “buy” rating to a “market outperform” rating in a research report on Monday, September 14th. Finally, Glj Research began coverage on shares of GE Vernova in a research report on Monday, September 14th. They issued a “sell” rating and a $470.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $1,164.87.

GE Vernova Stock Performance

GE Vernova stock opened at $907.78 on Tuesday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a market capitalization of $241.77 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 3.19 and a beta of 1.14. The stock has a fifty day moving average of $961.19 and a two-hundred day moving average of $1,002.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 15.04 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio (DPR) is currently 5.72%.

GE Vernova Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.