GE Vernova Inc. $GEV Stock Position Raised by Covenant Asset Management LLC

Covenant Asset Management LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 15.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,764 shares of the company’s stock after buying an additional 2,063 shares during the period. GE Vernova comprises 2.1% of Covenant Asset Management LLC’s portfolio, making the stock its 7th biggest holding. Covenant Asset Management LLC’s holdings in GE Vernova were worth $14,984,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Auto Owners Insurance Co lifted its position in shares of GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of GE Vernova in the second quarter worth approximately $25,569,630,000. State Street Corp increased its position in shares of 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 purchasing an additional 370,842 shares in the last quarter. Bank of America Corp DE increased its position in shares of 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 purchasing an additional 435,405 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of GE Vernova during the second quarter worth approximately $2,497,472,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Royal Bank Of Canada increased their price objective on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Guggenheim reaffirmed a “buy” rating and set a $1,450.00 target price on shares of GE Vernova in a research note on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,250.00 target price (up from $1,110.00) on shares of GE Vernova in a report on Friday, August 7th. Finally, Morgan Stanley cut shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,164.87.

More GE Vernova News

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova’s backlog has reached approximately $176 billion, supported by 88% organic order growth in the second quarter. Strong free cash flow and high-margin gas-turbine services revenue could benefit results as electricity demand from AI data centers rises. Got $5,000? 2 Stocks Supplying the AI Data Center Power Crunch
• Positive Sentiment: Susquehanna maintained a positive rating while trimming its price target modestly to $1,270, implying substantial upside from recent trading levels. Guggenheim also reaffirmed its buy rating with a $1,450 target, reinforcing favorable analyst sentiment.
• Positive Sentiment: The company is scheduled to report third-quarter 2026 financial results on October 28, providing a near-term catalyst for investors to assess order momentum, cash generation and execution. GE Vernova to announce third quarter 2026 financial results on October 28
• Neutral Sentiment: Citi maintained its hold rating, suggesting analysts remain constructive on the business but are cautious about the stock’s valuation and expectations.
• Neutral Sentiment: Speculation about a potential stock split highlights GE Vernova’s strong share-price appreciation, but a split would not change the company’s underlying value or fundamentals. Stock-Split Watch: Is GE Vernova Next?
• Negative Sentiment: GE Vernova shares have fallen from their year-to-date high into bear-market territory, signaling profit-taking and weakening momentum after a substantial earlier rally. GE Vernova stock has suffered a big pullback
• Negative Sentiment: The latest session saw GE Vernova underperform the broader market. Investors are questioning whether the backlog and AI-power opportunity can justify the stock’s elevated earnings multiple, cited by one report at roughly 66 times earnings. GE Vernova Registers a Bigger Fall Than the Market

GE Vernova Price Performance

GE Vernova stock opened at $939.83 on Thursday. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The stock has a market cap of $250.31 billion, a P/E ratio of 26.90, a PEG ratio of 3.48 and a beta of 1.14. The company has a 50-day moving average price of $965.61 and a 200 day moving average price of $1,001.12. 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 (NYSE:GEV) last posted its 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 firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 earnings per share. Sell-side analysts anticipate that GE Vernova Inc. will post 15.04 earnings per share for the current year.

GE Vernova Announces Dividend

The company 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 dividend of $0.50 per share. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.72%.

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.