GE Vernova Inc. $GEV Stock: Perpetual Ltd Trims Position

Key Points

• Perpetual Ltd. cut its GE Vernova position by 89.3% in the third quarter, selling 24,242 shares and retaining 2,898 shares valued at approximately $2.76 million.
• GE Vernova reported 21.9% year-over-year revenue growth to $11.10 billion, though quarterly EPS of $2.47 fell short of the $3.17 analyst consensus.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $1,165.87 versus the reported share price of $1,002.72; the company also announced a $0.50 quarterly dividend.

Perpetual Ltd cut its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 89.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,898 shares of the company's stock after selling 24,242 shares during the period. Perpetual Ltd's holdings in GE Vernova were worth $2,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in GEV. Onyx Bridge Wealth Group LLC increased its stake in shares of GE Vernova by 1.3% during the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock valued at $635,000 after buying an additional 9 shares during the period. Red Door Wealth Management LLC raised its holdings in shares of GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock valued at $1,548,000 after acquiring an additional 10 shares in the last quarter. Advance Capital Management Inc. lifted its stake in GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company's stock worth $402,000 after acquiring an additional 10 shares during the period. Alpha Financial Partners LLC lifted its stake in GE Vernova by 2.0% in the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company's stock worth $449,000 after acquiring an additional 10 shares during the period. Finally, Sandy Cove Advisors LLC lifted its stake in GE Vernova by 2.6% in the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company's stock worth $457,000 after acquiring an additional 10 shares during the period.

GE Vernova Price Performance

NYSE GEV opened at $1,002.72 on Wednesday. The firm's fifty day simple moving average is $967.20 and its two-hundred day simple moving average is $1,000.65. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm 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.

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 analysts' consensus estimates 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 previous year, the company posted $1.86 earnings per share. The business's revenue for the quarter was up 21.9% on a year-over-year basis. Analysts forecast 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. Investors of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova's payout ratio is 5.72%.

Analyst Ratings Changes

GEV has been the topic of several recent research reports. Glj Research began coverage on shares of GE Vernova in a report on Monday, September 14th. They set a "sell" rating and a $470.00 target price on the stock. Oppenheimer boosted their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Jefferies Financial Group restated a "buy" rating and issued a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a report on Thursday, September 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of GE Vernova in a research report on Tuesday, July 21st. Finally, TD Cowen upped their price target on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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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