GE Vernova Inc. $GEV Stock: Nisa Investment Advisors LLC Cuts Holdings

Key Points

• Nisa Investment Advisors cut its GE Vernova stake by 5.7% in the third quarter, selling 2,066 shares and retaining 34,413 shares valued at approximately $32.7 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,164.87, despite Morgan Stanley downgrading the stock to “underweight.”
• GE Vernova reported strong year-over-year revenue growth of 21.9% to $11.1 billion, though quarterly EPS of $2.47 missed estimates. The company also declared a $0.50 quarterly dividend, equivalent to a 0.2% yield.

Nisa Investment Advisors LLC reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,413 shares of the company's stock after selling 2,066 shares during the quarter. Nisa Investment Advisors LLC's holdings in GE Vernova were worth $32,709,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GEV. BlackRock Inc. acquired a new stake in shares of GE Vernova during the second quarter worth $25,569,630,000. Bank of America Corp DE acquired a new position in shares of GE Vernova in the 2nd quarter valued at $2,961,612,000. Bank of New York Mellon Corp acquired a new position in shares of GE Vernova in the 2nd quarter valued at $2,497,472,000. Jupiter Topco LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $2,371,538,000. Finally, Janus Henderson Group PLC raised its stake 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 worth $1,316,076,000 after acquiring an additional 1,485,712 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GEV. Guggenheim reaffirmed a "buy" rating and set a $1,450.00 price target on shares of GE Vernova in a research report on Tuesday, October 13th. Weiss Ratings reissued a "buy (b)" rating on shares of GE Vernova in a report on Monday. Jefferies Financial Group restated a "buy" rating and issued a $1,185.00 price objective (up from $1,155.00) on shares of GE Vernova in a research note on Thursday, September 17th. Oppenheimer lifted their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, Morgan Stanley lowered GE Vernova from an "overweight" rating to an "underweight" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,164.87.

GE Vernova Price Performance

NYSE:GEV opened at $888.93 on Wednesday. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The firm has a market cap of $236.75 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.14 and a beta of 1.14. The firm's fifty day moving average is $958.76 and its two-hundred day moving average is $1,002.59.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to analyst estimates 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 for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.86 earnings per share. Research analysts expect that GE Vernova Inc. will post 15.04 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be issued a $0.50 dividend. 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 payout ratio is 5.72%.

GE Vernova 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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