GE Vernova Inc. $GEV Stock Acquired by Sax Wealth Advisors LLC

Key Points

• Sax Wealth Advisors doubled its GE Vernova stake in the third quarter, acquiring 1,254 additional shares for a total of 2,505 shares valued at approximately $2.38 million. Several major institutions, including BlackRock and State Street, also hold substantial positions.
• GE Vernova shares opened at $1,002.72, with a market capitalization of about $267 billion and a 52-week range of $530.16 to $1,195.94. The company reported quarterly revenue of $11.10 billion, up 21.9% year over year, but earnings per share of $2.47 missed analyst estimates.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $1,165.87. GE Vernova also announced a quarterly dividend of $0.50 per share, equivalent to a 0.2% yield.

Sax Wealth Advisors LLC grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 100.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,505 shares of the company's stock after acquiring an additional 1,254 shares during the period. Sax Wealth Advisors LLC's holdings in GE Vernova were worth $2,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of GE Vernova during the 2nd quarter valued at $25,569,630,000. State Street Corp increased its stake in shares of GE Vernova by 3.3% in the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company's stock worth $13,828,380,000 after purchasing an additional 370,842 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of GE Vernova in the 2nd quarter worth $2,961,612,000. Bank of New York Mellon Corp bought a new position in GE Vernova in the 2nd quarter worth $2,497,472,000. Finally, Jupiter Topco LLC bought a new position in GE Vernova in the 2nd quarter worth $2,371,538,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $1,002.72 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. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a market capitalization of $267.05 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.45 and a beta of 1.14. The firm's 50 day simple moving average is $967.20 and its two-hundred day simple moving average is $1,000.65.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova's dividend payout ratio (DPR) is presently 5.72%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GEV. TD Cowen lifted their target price on 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. Jefferies Financial Group reissued a "buy" rating and set a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a report on Thursday, September 17th. 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 report on Thursday, July 23rd. Morgan Stanley cut GE Vernova from an "overweight" rating to an "underweight" rating in a research report on Monday, August 3rd. Finally, BNP Paribas Exane decreased their price objective on GE Vernova from $1,190.00 to $1,090.00 and set a "neutral" rating on the stock in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,165.87.

GE Vernova 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.

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