GE Vernova Inc. $GEV Stock: Talbot Financial LLC Grows Stake

Talbot Financial LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,615 shares of the company’s stock after buying an additional 581 shares during the period. GE Vernova makes up 1.9% of Talbot Financial LLC’s investment portfolio, making the stock its 16th biggest position. Talbot Financial LLC’s holdings in GE Vernova were worth $26,248,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in GE Vernova during the second quarter worth about $25,569,630,000. State Street Corp grew its stake in GE Vernova by 3.3% during the second quarter. State Street Corp now owns 11,765,340 shares of the company’s stock worth $13,828,380,000 after buying an additional 370,842 shares in the last quarter. Bank of America Corp DE grew its stake in GE Vernova by 20.1% during the first quarter. Bank of America Corp DE now owns 2,598,178 shares of the company’s stock worth $2,267,949,000 after buying an additional 435,405 shares in the last quarter. Bank of New York Mellon Corp bought a new position in GE Vernova in the 2nd quarter valued at about $2,497,472,000. Finally, Jupiter Topco LLC bought a new position in GE Vernova in the 2nd quarter valued at about $2,371,538,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. BNP Paribas Exane cut their price target on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a report on Thursday, August 20th. Mizuho lifted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, September 14th. They set a “sell” rating and a $470.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $1,185.00 target price (up from $1,155.00) on shares of GE Vernova in a research note on Thursday, September 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,250.00 target price (up from $1,110.00) on shares of GE Vernova in a report on Friday, August 7th. Two 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,164.87.

GE Vernova Price Performance

Shares of GEV stock traded down $9.85 on Monday, reaching $911.36. The company had a trading volume of 1,218,866 shares, compared to its average volume of 2,631,488. The business’s 50-day moving average is $962.80 and its 200 day moving average is $1,002.38. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. 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 stock has a market capitalization of $242.72 billion, a PE ratio of 26.12, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) 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 the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share. Equities research analysts forecast that GE Vernova Inc. will post 15.04 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s payout ratio is presently 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.