GE Vernova Inc. $GEV Stock Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in GE Vernova Inc. (NYSE:GEV) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,228 shares of the company’s stock after selling 5,512 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of GE Vernova worth $222,909,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in GE Vernova during the 2nd quarter valued at approximately $25,569,630,000. Bank of America Corp DE bought a new stake in GE Vernova in the 2nd quarter worth approximately $2,961,612,000. Bank of New York Mellon Corp bought a new stake in GE Vernova in the 2nd quarter worth approximately $2,497,472,000. Jupiter Topco LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $2,371,538,000. Finally, Janus Henderson Group PLC raised 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 worth $1,316,076,000 after acquiring an additional 1,485,712 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of a number of research reports. Citigroup lowered their target price on GE Vernova from $1,125.00 to $1,000.00 and set a “neutral” rating for the company in a research report on Thursday, October 29th. TD Cowen reduced their price target on shares of GE Vernova from $1,235.00 to $1,125.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $1,298.00 price target on shares of GE Vernova in a research report on Wednesday, October 28th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,200.00 price target on shares of GE Vernova in a research note on Thursday, October 29th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given 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 company presently has an average rating of “Moderate Buy” and an average target price of $1,143.03.

GE Vernova Trading Up 1.2%

GEV opened at $818.25 on Friday. The firm has a market cap of $216.57 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.63 and a beta of 1.25. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $915.80 and a 200 day moving average of $947.62.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 company had revenue of $12.64 billion for the quarter, compared to analysts’ expectations of $11.99 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 16.13 EPS for the current year.

GE Vernova Dividend Announcement

The business 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 $0.50 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 5.25%.

Latest GE Vernova News

Here’s some of the latest news about GEV:

• 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: 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

GE Vernova Profile

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.