GE Vernova Inc. $GEV Stock Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its position in GE Vernova Inc. (NYSE:GEV) by 14.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,535 shares of the company’s stock after selling 904 shares during the quarter. Douglas Lane & Associates LLC’s holdings in GE Vernova were worth $5,261,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Parvin Asset Management LLC bought a new position in GE Vernova during the 2nd quarter worth $32,000. Pingora Partners LLC bought a new position in shares of GE Vernova in the second quarter worth about $36,000. Manning & Napier Advisors LLC grew its position in GE Vernova by 68.4% during the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in shares of GE Vernova during the second quarter worth about $39,000. Finally, Miller Global Investments LLC lifted its holdings in shares of 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 purchasing an additional 14 shares during the period.

GE Vernova Stock Up 0.4%

Shares of NYSE:GEV opened at $1,003.83 on Friday. The company has a market cap of $267.35 billion, a PE ratio of 28.73, a P/E/G ratio of 3.46 and a beta of 1.14. The stock’s 50-day moving average is $967.78 and its 200 day moving average is $998.65. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. Sell-side analysts anticipate that GE Vernova Inc. will post 15.03 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s payout ratio is currently 5.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. BNP Paribas Exane decreased their price objective on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Mizuho boosted their target price on GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. reduced their price objective on GE Vernova from $1,330.00 to $1,150.00 and set an “overweight” rating for the company in a research note on Friday. TD Cowen raised their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, The Goldman Sachs Group raised GE Vernova from a “buy” rating to a “market outperform” rating in a report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,165.87.

GE Vernova Company Profile

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.