GE Vernova Inc. $GEV Stock: D.A. Davidson & CO. Boosts Position

D.A. Davidson & CO. increased its holdings in GE Vernova Inc. (NYSE:GEV) by 28.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,668 shares of the company’s stock after buying an additional 4,098 shares during the quarter. D.A. Davidson & CO.’s holdings in GE Vernova were worth $17,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $25,569,630,000. Bank of America Corp DE purchased a new stake in shares of GE Vernova in the 2nd quarter valued at $2,961,612,000. Bank of New York Mellon Corp purchased a new stake in shares of GE Vernova in the 2nd quarter valued at $2,497,472,000. Jupiter Topco LLC acquired a new stake in shares of GE Vernova in the second quarter worth $2,371,538,000. Finally, Janus Henderson Group PLC increased its stake in shares of GE Vernova by 4,358.6% in the first quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company’s stock worth $1,316,076,000 after acquiring an additional 1,485,712 shares during the period.

GE Vernova Trading Up 1.4%

GE Vernova stock opened at $889.93 on Friday. 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 Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The stock’s 50 day simple moving average is $937.07 and its two-hundred day simple moving average is $939.27. The firm has a market cap of $237.02 billion, a PE ratio of 23.35, a P/E/G ratio of 3.04 and a beta of 1.14.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $12.64 billion for the quarter, compared to analysts’ expectations of $11.99 billion. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The business’s revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. Analysts anticipate that GE Vernova Inc. will post 15.04 earnings per share for the current year.

GE Vernova Dividend Announcement

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

GE Vernova News Roundup

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova reported third-quarter adjusted earnings of $4.81 per share, well above the $4.03 consensus estimate, while revenue of $12.64 billion exceeded expectations by roughly $650 million and rose 26.8% year over year. GE Vernova Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Management raised its full-year outlook for a third consecutive quarter, supported by a record $197 billion backlog, strong Power and Electrification performance, and orders that reportedly nearly doubled year over year. The company also increased its share-repurchase authorization. GE Vernova’s $197 Billion Backlog, $9 Billion Acquisition, and One Clear Strategy
• Positive Sentiment: Demand from artificial-intelligence data centers is driving higher gas-turbine pricing and long-term capacity reservations, potentially improving margins and visibility. GE Vernova’s Trench acquisition should also expand its high-voltage grid portfolio and exposure to accelerating grid-modernization spending. GE Vernova to Acquire Trench Group
• Neutral Sentiment: Analyst views remain broadly constructive but mixed. Susquehanna maintained a Positive rating with a $1,250 target, while JPMorgan and Citi reduced their targets to $1,035 and $1,000, respectively. Both lower targets still imply upside from the referenced price. 38% Upside for GE Vernova? Susquehanna Thinks So
• Negative Sentiment: The main overhang is that new order signings and new production-slot bookings fell short of elevated investor expectations. That has prompted questions about backlog conversion and quality, limiting the market’s response to the earnings beat and guidance increase. GE Vernova’s Reservations Are Turning Into Real Orders

Analyst Ratings Changes

Several research analysts recently issued reports on GEV shares. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a report on Monday, October 19th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,298.00 price target on shares of GE Vernova in a report on Wednesday. Mizuho upped their price target on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Royal Bank Of Canada increased their price target on GE Vernova from $1,225.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Two 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. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $1,148.20.

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.