Fisher Asset Management LLC Acquires 1,361,584 Shares of GE Vernova Inc. $GEV

Fisher Asset Management LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 38.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,921,063 shares of the company’s stock after acquiring an additional 1,361,584 shares during the period. GE Vernova makes up 1.4% of Fisher Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Fisher Asset Management LLC’s holdings in GE Vernova were worth $4,677,422,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $25,569,630,000. State Street Corp boosted its stake in GE Vernova by 3.3% in the second quarter. State Street Corp now owns 11,765,340 shares of the company’s stock worth $13,828,380,000 after buying an additional 370,842 shares in the last quarter. Bank of America Corp DE grew its position in GE Vernova by 20.1% during the first quarter. Bank of America Corp DE now owns 2,598,178 shares of the company’s stock valued at $2,267,949,000 after acquiring an additional 435,405 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova during the second quarter worth approximately $2,497,472,000. Finally, Jupiter Topco LLC purchased a new position in shares of GE Vernova during the second quarter worth approximately $2,371,538,000.

GE Vernova News Roundup

Here’s some of the latest news about GEV:

• Neutral Sentiment: Third-quarter orders rose 96% year over year to $29 billion, but electrification orders fell 9%—a weakness that tempers the strong headline growth. GE Vernova’s orders and electrification results
• Negative Sentiment: GE Vernova’s Ontario small modular nuclear reactor project is reportedly facing construction delays and rising costs, raising execution and cost-overrun concerns. Ontario nuclear project delays and costs
• Negative Sentiment: GLJ Research issued a “sell” rating, adding a bearish analyst view amid the pullback. GLJ Research sell rating

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,100.00 price objective on shares of GE Vernova in a research note on Thursday, October 29th. Argus decreased their target price on shares of GE Vernova from $1,300.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Glj Research reiterated a “sell” rating and issued a $540.00 price objective on shares of GE Vernova in a report on Tuesday. Finally, Evercore reissued an “outperform” rating and issued a $1,350.00 target price on shares of GE Vernova in a research note on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,143.03.

GE Vernova Stock 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. GE Vernova Inc. has a 52 week low of $530.16 and a 52 week high of $1,195.94. The firm’s fifty day moving average is $915.80 and its 200 day moving average is $947.62. The company has a market cap of $216.57 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 2.63 and a beta of 1.25.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $12.64 billion during 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 firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 EPS. On average, equities research analysts expect that GE Vernova Inc. will post 16.13 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio is currently 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.