Russell Investments Group Ltd. lowered its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 2.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 234,228 shares of the company’s stock after selling 5,512 shares during the period. Russell Investments Group Ltd.’s holdings in GE Vernova were worth $222,909,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG lifted its position in shares of GE Vernova by 37.7% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock worth $27,116,000 after purchasing an additional 6,313 shares during the last quarter. BG Investment Services LLC purchased a new stake in shares of GE Vernova during the third quarter valued at $3,348,000. Citizens Financial Group Inc. RI bought a new position in shares of GE Vernova in the second quarter worth about $8,337,000. Sapient Capital LLC grew its holdings in shares of GE Vernova by 31.4% in the second quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock worth $89,372,000 after purchasing an additional 18,188 shares during the last quarter. Finally, Processus Wealth & Capital Management LLC bought a new position in shares of GE Vernova in the second quarter worth about $2,699,000.
GE Vernova News Summary
Investors following GEV have been watching these news items:
- Positive Sentiment: J.P. Morgan says GE Vernova could withstand a slowdown in AI spending and maintains an “overweight” rating. Its price target was lowered from $1,035 to $1,000, still indicating substantial potential upside from the cited share price. J.P. Morgan’s view on GE Vernova
- Positive Sentiment: One analysis argues that only about 20% of GE Vernova’s gas-turbine customers are data centers, suggesting the company may be less exposed to an AI-spending pullback than investors fear. GE Vernova’s customer mix
- Negative Sentiment: SoftBank’s Ohio data-center project is undergoing a “thorough reassessment,” adding to investor worries about data-center-related demand. SoftBank Ohio data-center reassessment
Wall Street Analysts Forecast Growth
GEV has been the topic of several recent analyst reports. BNP Paribas Exane reduced their price target on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. The Goldman Sachs Group upgraded shares of GE Vernova from a “buy” rating to a “market outperform” rating in a report on Monday, September 14th. Mizuho boosted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. TD Cowen dropped their target price on shares of GE Vernova from $1,235.00 to $1,125.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Finally, Evercore reaffirmed an “outperform” rating and set a $1,350.00 target price on shares of GE Vernova in a research report on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,143.03.
View Our Latest Report on GE Vernova
GE Vernova Trading Up 1.2%
Shares of NYSE GEV opened at $818.25 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $915.80 and a two-hundred day simple moving average of $947.62. The firm has a market cap of $216.57 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94.
GE Vernova (NYSE:GEV – Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. GE Vernova had a return on equity of 46.50% and a net margin of 23.54%. The business had revenue of $12.64 billion during the quarter, compared to analysts’ expectations of $11.99 billion. During the same period in the prior year, the business earned $1.64 EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. Analysts expect that GE Vernova Inc. will post 16.13 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s payout ratio is presently 5.25%.
About GE Vernova
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.
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