GE Vernova Inc. $GEV Stock: Covenant Asset Management LLC Raises Position

Covenant Asset Management LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 15.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,764 shares of the company's stock after acquiring an additional 2,063 shares during the period. GE Vernova comprises 2.1% of Covenant Asset Management LLC's holdings, making the stock its 7th largest position. Covenant Asset Management LLC's holdings in GE Vernova were worth $14,984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Manning & Napier Advisors LLC boosted its position in 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 purchasing an additional 13 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $32,000. Monetary Solutions Ltd acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $35,000. Strategic Wealth Advisors LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at approximately $35,000. Finally, Pingora Partners LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at approximately $36,000.

Analyst Ratings Changes

Several research firms recently issued reports on GEV. Citigroup decreased their target price on shares of GE Vernova from $1,219.00 to $1,125.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. JPMorgan Chase & Co. dropped their price target on shares of 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. Evercore reiterated an "outperform" rating and issued a $1,350.00 price objective on shares of GE Vernova in a research report on Thursday, October 1st. President Capital upped their price objective on shares of 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. 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 given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,164.87.

Key Stories Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova’s backlog has reached approximately $176 billion, supported by 88% organic order growth in the second quarter. Strong free cash flow and high-margin gas-turbine services revenue could benefit results as electricity demand from AI data centers rises. Got $5,000? 2 Stocks Supplying the AI Data Center Power Crunch
• Positive Sentiment: Susquehanna maintained a positive rating while trimming its price target modestly to $1,270, implying substantial upside from recent trading levels. Guggenheim also reaffirmed its buy rating with a $1,450 target, reinforcing favorable analyst sentiment.
• Positive Sentiment: The company is scheduled to report third-quarter 2026 financial results on October 28, providing a near-term catalyst for investors to assess order momentum, cash generation and execution. GE Vernova to announce third quarter 2026 financial results on October 28
• Neutral Sentiment: Citi maintained its hold rating, suggesting analysts remain constructive on the business but are cautious about the stock’s valuation and expectations.
• Neutral Sentiment: Speculation about a potential stock split highlights GE Vernova’s strong share-price appreciation, but a split would not change the company’s underlying value or fundamentals. Stock-Split Watch: Is GE Vernova Next?
• Negative Sentiment: GE Vernova shares have fallen from their year-to-date high into bear-market territory, signaling profit-taking and weakening momentum after a substantial earlier rally. GE Vernova stock has suffered a big pullback
• Negative Sentiment: The latest session saw GE Vernova underperform the broader market. Investors are questioning whether the backlog and AI-power opportunity can justify the stock’s elevated earnings multiple, cited by one report at roughly 66 times earnings. GE Vernova Registers a Bigger Fall Than the Market

GE Vernova Trading Down 6.4%

Shares of NYSE:GEV opened at $939.83 on Thursday. The business's 50 day moving average price is $965.61 and its 200-day moving average price is $1,001.12. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The firm has a market capitalization of $250.31 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 3.48 and a beta of 1.14. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company 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%. GE Vernova's revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 15.04 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

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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