GE Vernova Inc. $GEV Stake Lifted by Cullinan Associates Inc.

Cullinan Associates Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV – Free Report) by 67.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,008 shares of the company’s stock after acquiring an additional 808 shares during the period. Cullinan Associates Inc.’s holdings in GE Vernova were worth $1,909,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of GE Vernova by 37.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company’s stock valued at $27,116,000 after purchasing an additional 6,313 shares during the last quarter. BG Investment Services LLC purchased a new position in GE Vernova during the 3rd quarter worth approximately $3,348,000. Citizens Financial Group Inc. RI purchased a new position in GE Vernova during the 2nd quarter worth approximately $8,337,000. Sapient Capital LLC grew its stake in GE Vernova by 31.4% during the 2nd quarter. Sapient Capital LLC now owns 76,038 shares of the company’s stock worth $89,372,000 after buying an additional 18,188 shares during the last quarter. Finally, Processus Wealth & Capital Management LLC acquired a new position in GE Vernova during the second quarter worth approximately $2,699,000.

GE Vernova Price Performance

Shares of GEV opened at $774.74 on Friday. The company has a market capitalization of $205.06 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.52 and a beta of 1.25. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The firm has a 50-day simple moving average of $923.33 and a 200-day simple moving average of $944.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.62 and a current ratio of 0.83.

GE Vernova (NYSE:GEV – Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $12.64 billion during the quarter, compared to the consensus estimate of $11.99 billion. GE Vernova had a return on equity of 46.50% and a net margin of 23.54%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 16.13 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio (DPR) is 5.25%.

GE Vernova News Roundup

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GEV shares. President Capital boosted their price objective on GE Vernova from $1,368.00 to $1,398.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Sanford C. Bernstein restated an “outperform” rating and set a $1,298.00 target price on shares of GE Vernova in a research report on Wednesday, October 28th. Evercore reaffirmed an “outperform” rating and issued a $1,350.00 target price on shares of GE Vernova in a report on Thursday, October 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of GE Vernova from $1,150.00 to $1,035.00 and set an “overweight” rating for the company in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $1,144.20.

View Our Latest Stock Analysis on GEV

About GE Vernova

(Free Report)

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.

GE Vernova serves utilities, power producers, grid operators and other customers around the world.

Featured Articles

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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