2,054 Shares of GE Vernova Inc. $GEV Bought by Freedom Day Solutions LLC

Key Points

• Freedom Day Solutions LLC initiated a GE Vernova stake of 2,054 shares worth approximately $1.95 million in the third quarter, while several other institutional investors also increased their holdings.
• Analysts maintain a generally positive outlook, with GE Vernova carrying a consensus “Moderate Buy” rating and an average price target of $1,164.87, despite some recent target-price cuts.
• GE Vernova shares opened at $907.78, below their 50-day and 200-day moving averages. The company reported 21.9% year-over-year revenue growth but missed quarterly EPS estimates, and announced a $0.50 quarterly dividend.

Freedom Day Solutions LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,054 shares of the company's stock, valued at approximately $1,953,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in GE Vernova by 3.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,688 shares of the company's stock valued at $38,674,000 after purchasing an additional 1,247 shares during the last quarter. Drum Hill Capital LLC increased its holdings in shares of GE Vernova by 20.7% during the 3rd quarter. Drum Hill Capital LLC now owns 455 shares of the company's stock worth $432,000 after purchasing an additional 78 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of GE Vernova by 5.7% during the 3rd quarter. CWA Asset Management Group LLC now owns 4,707 shares of the company's stock worth $4,474,000 after purchasing an additional 253 shares during the period. Warwick Investment Management Inc. raised its position in shares of GE Vernova by 5.2% during the third quarter. Warwick Investment Management Inc. now owns 406 shares of the company's stock valued at $386,000 after buying an additional 20 shares during the last quarter. Finally, Secure Asset Management LLC raised its position in shares of GE Vernova by 1.4% during the third quarter. Secure Asset Management LLC now owns 3,771 shares of the company's stock valued at $3,584,000 after buying an additional 52 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEV. Mizuho lifted their target price on GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. William Blair reiterated an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Sanford C. Bernstein reissued an "outperform" rating and set a $1,298.00 price objective (up from $1,206.00) on shares of GE Vernova in a report on Tuesday, September 15th. JPMorgan Chase & Co. lowered their price objective on GE Vernova from $1,330.00 to $1,150.00 and set an "overweight" rating on the stock in a research report on Friday, October 9th. Finally, BNP Paribas Exane cut their target price on GE Vernova from $1,190.00 to $1,090.00 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,164.87.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $907.78 on Tuesday. The stock has a market capitalization of $241.77 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 3.19 and a beta of 1.14. The firm's 50-day moving average price is $961.19 and its two-hundred day moving average price is $1,002.63. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same quarter last year, the company earned $1.86 earnings per share. The firm's revenue was up 21.9% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 15.04 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be paid 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 dividend payout ratio (DPR) is 5.72%.

GE Vernova Company Profile

GE Vernova Inc NYSE: GEV is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.

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