GE Vernova Inc. $GEV Stock: Sumitomo Mitsui DS Asset Management Company Ltd Grows Position

Key Points

• Sumitomo Mitsui DS Asset Management increased its GE Vernova position by 3.2% in the third quarter, bringing its holdings to 40,688 shares valued at approximately $38.7 million. Several other institutional investors also raised or initiated positions.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,164.87, despite mixed recommendations ranging from “underweight” to “outperform.”
• GE Vernova shares opened at $907.78, below their 50-day and 200-day moving averages. The company’s latest quarterly revenue rose 21.9% year over year and exceeded estimates, but EPS missed consensus; it also declared a quarterly dividend of $0.50 per share.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,688 shares of the company's stock after acquiring an additional 1,247 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in GE Vernova were worth $38,674,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. B. Metzler seel. Sohn & Co. AG grew its position in GE Vernova by 37.7% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 23,080 shares of the company's stock valued at $27,116,000 after buying an additional 6,313 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new position in GE Vernova in the 2nd quarter valued at $8,337,000. Sapient Capital LLC raised its position in GE Vernova by 31.4% during the 2nd quarter. Sapient Capital LLC now owns 76,038 shares of the company's stock worth $89,372,000 after buying an additional 18,188 shares during the last quarter. Processus Wealth & Capital Management LLC purchased a new position in GE Vernova during the 2nd quarter worth $2,699,000. Finally, Field & Main Bank purchased a new position in GE Vernova during the 2nd quarter worth $3,018,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GEV shares. Morgan Stanley cut shares of GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. Mizuho boosted their price target on shares of GE Vernova from $913.00 to $949.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. The Goldman Sachs Group raised shares of GE Vernova from a "buy" rating to a "market outperform" rating in a report on Monday, September 14th. Royal Bank Of Canada increased their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Finally, Oppenheimer raised their price objective on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,164.87.

GE Vernova Trading Down 1.5%

Shares of GEV stock opened at $907.78 on Tuesday. The business's fifty day moving average price is $961.19 and its 200 day moving average price is $1,002.63. The firm has a market capitalization of $241.77 billion, a PE ratio of 25.98, a P/E/G ratio of 3.19 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 Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94.

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

GE Vernova Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova's dividend payout ratio (DPR) is currently 5.72%.

GE Vernova Company 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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