GE Vernova Inc. $GEV Stock Purchased by Keybank National Association OH

Keybank National Association OH lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,708 shares of the company’s stock after acquiring an additional 3,626 shares during the quarter. Keybank National Association OH’s holdings in GE Vernova were worth $33,940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parvin Asset Management LLC bought a new position in shares of GE Vernova in the second quarter worth approximately $32,000. Strategic Wealth Advisors LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $35,000. Pingora Partners LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at $36,000. IMG Wealth Management Inc. bought a new stake in shares of GE Vernova during the 2nd quarter valued at $39,000. Finally, Miller Global Investments LLC lifted its stake in shares of GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock valued at $42,000 after buying an additional 14 shares in the last quarter.

Recent GE Vernova Headlines

These are some of the GEV headlines that stood out recently:

• Neutral Sentiment: The company validated milestones for hydrogen-capable aeroderivative turbines, a potential longer-term opportunity, though the report does not indicate a near-term earnings impact. GE Vernova Advances Hydrogen Capabilities
• Negative Sentiment: SoftBank’s reassessment of plans for an Ohio data center has fueled concern about potential delays or reduced demand for power-generation equipment, weighing on sentiment toward GE Vernova and other AI-power stocks. GE Vernova shares slide after SoftBank revises US data center project plans
• Negative Sentiment: Despite the surge in total orders, electrification orders fell 9% year over year, a notable weak spot given the importance of grid equipment to the company’s growth outlook. GE Vernova’s Orders Jumped 96%

GE Vernova Price Performance

NYSE:GEV opened at $809.59 on Thursday. The business’s 50-day moving average is $917.88 and its 200 day moving average is $946.85. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a market capitalization of $214.28 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.60 and a beta of 1.25. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.22.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $12.64 billion during the quarter, compared to analysts’ expectations of $11.99 billion. GE Vernova had a return on equity of 46.50% and a net margin of 23.54%. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 16.13 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s dividend payout ratio is 5.25%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,200.00 target price on shares of GE Vernova in a report on Thursday, October 29th. Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating and set a $1,100.00 price target on shares of GE Vernova in a report on Thursday, October 29th. Guggenheim lowered their price objective on GE Vernova from $1,450.00 to $1,400.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. Finally, Glj Research restated a “sell” rating and issued a $540.00 price objective on shares of GE Vernova in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,143.03.

GE Vernova Company Profile

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.