RWQ Financial Management Services Inc. Purchases 3,539 Shares of GE Vernova Inc. $GEV

Key Points

• RWQ Financial Management Services increased its GE Vernova stake by 38.2% in the third quarter, purchasing 3,539 shares for a total of 12,805 shares valued at approximately $12.17 million.
• GE Vernova shares fell 1.3% to $909.47, while the company’s latest quarter showed 21.9% year-over-year revenue growth to $11.10 billion but earnings per share of $2.47 missed analyst expectations.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,164.87; GE Vernova also announced a quarterly dividend of $0.50 per share.

RWQ Financial Management Services Inc. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 38.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,805 shares of the company's stock after purchasing an additional 3,539 shares during the quarter. GE Vernova makes up about 6.8% of RWQ Financial Management Services Inc.'s portfolio, making the stock its 4th biggest holding. RWQ Financial Management Services Inc.'s holdings in GE Vernova were worth $12,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parvin Asset Management LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $32,000. Pingora Partners LLC acquired a new position in GE Vernova during the second quarter worth about $36,000. Manning & Napier Advisors LLC boosted its position in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after acquiring an additional 13 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in GE Vernova during the second quarter worth about $39,000. Finally, Miller Global Investments LLC grew its stake in GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock valued at $42,000 after acquiring an additional 14 shares in the last quarter.

GE Vernova Trading Down 1.3%

Shares of GEV stock traded down $11.73 on Monday, hitting $909.47. 1,250,750 shares of the stock traded hands, compared to its average volume of 2,631,723. The firm's 50-day moving average price is $962.80 and its two-hundred day moving average price is $1,002.38. 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 stock has a market capitalization of $242.22 billion, a PE ratio of 26.02, a PEG ratio of 3.19 and a beta of 1.14. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data 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 net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.79 billion. During the same period in the prior year, the company posted $1.86 EPS. The company's revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts anticipate that GE Vernova Inc. will post 15.04 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be issued a $0.50 dividend. 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 presently 5.72%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $1,185.00 price objective (up from $1,155.00) on shares of GE Vernova in a report on Thursday, September 17th. Weiss Ratings restated a "buy (b)" rating on shares of GE Vernova in a report on Tuesday, July 21st. Susquehanna lowered their target price on GE Vernova from $1,300.00 to $1,270.00 and set a "positive" rating on the stock in a report on Wednesday, October 14th. Glj Research started coverage on GE Vernova in a research report on Monday, September 14th. They issued a "sell" rating and a $470.00 price target for the company. Finally, Royal Bank Of Canada increased their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a 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 given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,164.87.

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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