Freedom Day Solutions LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV – Free Report) in the third quarter, HoldingsChannel reports. The firm purchased 2,054 shares of the company’s stock, valued at approximately $1,953,000.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in GE Vernova during the second quarter worth about $25,569,630,000. Bank of America Corp DE bought a new stake in shares of GE Vernova in the second quarter worth about $2,961,612,000. Bank of New York Mellon Corp acquired a new stake in shares of GE Vernova during the second quarter worth about $2,497,472,000. Jupiter Topco LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at about $2,371,538,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of GE Vernova by 4,358.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company’s stock valued at $1,316,076,000 after purchasing an additional 1,485,712 shares in the last quarter.
Analyst Ratings Changes
A number of analysts recently issued reports on GEV shares. Evercore reissued an “outperform” rating and set a $1,350.00 target price on shares of GE Vernova in a research note on Thursday, October 1st. William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. BMO Capital Markets reissued an “outperform” rating and set a $1,250.00 price objective (up from $1,110.00) on shares of GE Vernova in a research report on Friday, August 7th. Royal Bank Of Canada raised their price objective on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, TD Cowen boosted their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,164.87.
Get Our Latest Stock Analysis on GE Vernova
GE Vernova Stock Down 1.5%
GE Vernova stock opened at $907.78 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a fifty day simple moving average of $961.19 and a 200 day simple moving average of $1,002.63. The company has a market cap of $241.77 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14.
GE Vernova (NYSE:GEV – Get Free Report) last issued 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). The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. Research analysts anticipate that GE Vernova Inc. will post 15.04 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be paid a $0.50 dividend. 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 Company 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.
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