Steel Grove Capital Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 589 shares of the company’s stock, valued at approximately $560,000.
Other large investors have also modified their holdings of the company. Parvin Asset Management LLC bought a new position in shares of GE Vernova during the second quarter valued at approximately $32,000. Pingora Partners LLC bought a new position in GE Vernova in the second quarter worth approximately $36,000. Manning & Napier Advisors LLC raised its stake in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares in the last quarter. IMG Wealth Management Inc. bought a new position in GE Vernova in the second quarter worth approximately $39,000. Finally, Miller Global Investments LLC lifted its holdings in GE Vernova by 63.6% during the second quarter. Miller Global Investments LLC now owns 36 shares of the company’s stock worth $42,000 after buying an additional 14 shares during the period.
GE Vernova Stock Down 0.6%
Shares of NYSE GEV traded down $5.96 during trading hours on Tuesday, hitting $990.84. 1,055,988 shares of the stock were exchanged, compared to its average volume of 2,624,336. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a market cap of $263.89 billion, a PE ratio of 28.40, a PEG ratio of 3.48 and a beta of 1.14. The firm has a fifty day moving average price of $967.54 and a 200-day moving average price of $1,000.09. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94.
GE Vernova Announces Dividend
The firm 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 is Tuesday, October 27th. GE Vernova’s dividend payout ratio is currently 5.72%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,250.00 target price (up from $1,110.00) on shares of GE Vernova in a research report on Friday, August 7th. TD Cowen lifted their price target on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. The Goldman Sachs Group upgraded GE Vernova from a “buy” rating to a “market outperform” rating in a research note on Monday, September 14th. Finally, Evercore reaffirmed an “outperform” rating and set a $1,350.00 price objective 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-six have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,165.87.
Get Our Latest Analysis on GEV
About GE Vernova
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.
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