GE Vernova Inc. $GEV Shares Newly Acquired by Genoa Capital Gestora de Recursos Ltda.

Key Points

• Genoa Capital Gestora de Recursos acquired 6,717 GE Vernova shares worth approximately $6.38 million in the third quarter, making the stock its fifth-largest holding at 1.4% of assets.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $1,164.87; several firms recently raised targets despite Susquehanna’s reduction to $1,270.
• GE Vernova shares opened at $888.93, down 2.1%, while the company reported 21.9% year-over-year revenue growth but missed quarterly EPS estimates. It also declared a $0.50 quarterly dividend, equivalent to a 0.2% annual yield.

Genoa Capital Gestora de Recursos Ltda. bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,717 shares of the company's stock, valued at approximately $6,384,000. GE Vernova accounts for about 1.4% of Genoa Capital Gestora de Recursos Ltda.'s holdings, making the stock its 5th biggest holding.

Several other hedge funds also recently bought and sold shares of the stock. Parvin Asset Management LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $32,000. Pingora Partners LLC acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $36,000. Manning & Napier Advisors LLC lifted its holdings in shares of GE Vernova by 68.4% in 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. purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $39,000. Finally, Miller Global Investments LLC boosted its position in shares of GE Vernova by 63.6% during the 2nd 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.

Analysts Set New Price Targets

Several research firms recently weighed in on GEV. Weiss Ratings reiterated a "buy (b)" rating on shares of GE Vernova in a report on Monday. Susquehanna cut their target price on GE Vernova from $1,300.00 to $1,270.00 and set a "positive" rating on the stock in a research report on Wednesday, October 14th. BMO Capital Markets reissued an "outperform" rating and issued a $1,250.00 target price (up from $1,110.00) on shares of GE Vernova in a research report on Friday, August 7th. Royal Bank Of Canada upped their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, President Capital raised their price target on GE Vernova from $1,368.00 to $1,398.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,164.87.

GE Vernova Stock Down 2.1%

Shares of NYSE:GEV opened at $888.93 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The firm has a market capitalization of $236.75 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. The firm's 50-day moving average is $958.76 and its two-hundred day moving average is $1,002.59. 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 issued its quarterly 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). 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 analyst estimates of $10.79 billion. During the same period in the prior year, the company posted $1.86 EPS. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts predict that GE Vernova Inc. will post 15.04 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors 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 5.72%.

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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