GE Vernova Inc. $GEV Stock: Jackson Square Capital LLC Trims Position

Key Points

• Jackson Square Capital reduced its GE Vernova position by 38.9% in the third quarter, selling 3,652 shares and retaining 5,736 shares valued at approximately $5.45 million.
• Institutional interest remains substantial, with BlackRock, Bank of America, Bank of New York Mellon and others establishing or increasing large positions in the company.
• Analysts remain broadly bullish, giving GE Vernova a consensus “Moderate Buy” rating and an average price target of $1,164.87, despite the stock trading down 0.6% to $915.58 and the company missing its latest quarterly EPS estimate.

Jackson Square Capital LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 38.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,736 shares of the company's stock after selling 3,652 shares during the quarter. Jackson Square Capital LLC's holdings in GE Vernova were worth $5,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of GE Vernova in the 2nd quarter worth approximately $25,569,630,000. Bank of America Corp DE purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $2,961,612,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $2,497,472,000. Jupiter Topco LLC acquired a new stake in GE Vernova in the 2nd quarter valued at approximately $2,371,538,000. Finally, Janus Henderson Group PLC increased its holdings in GE Vernova by 4,358.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company's stock valued at $1,316,076,000 after purchasing an additional 1,485,712 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GEV shares. Guggenheim restated a "buy" rating and set a $1,450.00 price target on shares of GE Vernova in a research report on Tuesday, October 13th. TD Cowen lifted their price objective on GE Vernova from $1,220.00 to $1,235.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. William Blair reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated 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 given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,164.87.

GE Vernova Stock Down 0.6%

NYSE GEV traded down $5.62 on Monday, hitting $915.58. 1,095,854 shares of the stock were exchanged, compared to its average volume of 2,630,559. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $962.80 and a 200-day moving average price of $1,002.38. The company has a market cap of $243.85 billion, a PE ratio of 26.24, a PEG ratio of 3.19 and a beta of 1.14. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last posted its 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 business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company earned $1.86 EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 15.04 EPS 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 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 of this dividend is Tuesday, October 27th. GE Vernova's dividend payout ratio (DPR) is 5.72%.

About GE Vernova

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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