GE Vernova Inc. $GEV Position Lifted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 119.2% in the third quarter, Holdings Channel.com reports. The fund owned 7,021 shares of the company’s stock after buying an additional 3,818 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in GE Vernova were worth $6,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in GEV. Focus Financial Network Inc. increased its holdings in shares of GE Vernova by 9.9% in the 3rd quarter. Focus Financial Network Inc. now owns 1,389 shares of the company’s stock valued at $1,320,000 after purchasing an additional 125 shares in the last quarter. XY Planning Network Inc. purchased a new stake in GE Vernova during the third quarter worth about $255,000. Stonehearth Capital Management LLC boosted its holdings in GE Vernova by 20.0% during the third quarter. Stonehearth Capital Management LLC now owns 840 shares of the company’s stock worth $798,000 after buying an additional 140 shares in the last quarter. Signal Advisors Wealth LLC grew its position in GE Vernova by 20.5% during the third quarter. Signal Advisors Wealth LLC now owns 776 shares of the company’s stock worth $738,000 after buying an additional 132 shares during the period. Finally, BigSur Wealth Management LLC grew its position in GE Vernova by 14.4% during the third quarter. BigSur Wealth Management LLC now owns 7,186 shares of the company’s stock worth $6,830,000 after buying an additional 903 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Guggenheim reaffirmed a “buy” rating and issued a $1,450.00 target price on shares of GE Vernova in a report on Tuesday. Glj Research started coverage on GE Vernova in a research note on Monday, September 14th. They issued a “sell” rating and a $470.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a report on Tuesday, July 21st. Finally, Mizuho upped their target price on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,165.87.

GE Vernova Stock Up 0.6%

Shares of NYSE GEV opened at $1,002.72 on Wednesday. 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 $267.05 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.45 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm’s 50-day moving average is $967.20 and its two-hundred day moving average is $1,000.65.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 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 business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities analysts anticipate that GE Vernova Inc. will post 15.04 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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