GE Vernova Inc. $GEV Stock Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,260 shares of the company’s stock after selling 1,867 shares during the quarter. Cornerstone Advisors LLC’s holdings in GE Vernova were worth $18,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new stake in GE Vernova in the 2nd quarter worth approximately $25,569,630,000. Bank of America Corp DE purchased a new stake in GE Vernova during the 2nd quarter valued at $2,961,612,000. Bank of New York Mellon Corp purchased a new stake in GE Vernova during the 2nd quarter valued at $2,497,472,000. Jupiter Topco LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at $2,371,538,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of GE Vernova by 4,358.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,519,799 shares of the company’s stock valued at $1,316,076,000 after buying an additional 1,485,712 shares during the period.

GE Vernova Trading Down 1.9%

GE Vernova stock opened at $803.17 on Friday. The firm has a 50 day moving average of $913.05 and a 200 day moving average of $948.17. The firm has a market capitalization of $212.58 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.67 and a beta of 1.25. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.22.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 28th. The company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. GE Vernova had a net margin of 23.54% and a return on equity of 46.50%. The company had revenue of $12.64 billion for the quarter, compared to analysts’ expectations of $11.99 billion. During the same quarter last year, the business earned $1.64 EPS. The firm’s revenue was up 26.8% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 16.13 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be paid a $0.50 dividend. The ex-dividend date of this dividend 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 is 5.25%.

Key Stories Impacting GE Vernova

Investors following GEV have been watching these stories:

• Positive Sentiment: Evercore ISI maintained its Buy rating and $1,350 price target, which the report described as 67% above the Nov. 11 close. That view may help support investor confidence after the stock’s retreat from its summer high. Evercore ISI outlook
• Neutral Sentiment: Although data-center concerns have weighed on power-equipment stocks, one report says only about 20% of GE Vernova’s gas-turbine customers are data centers, suggesting its business is not solely dependent on AI infrastructure spending. Data-center customer exposure
• Negative Sentiment: Recent selling in GE Vernova and other power-related shares has been attributed to backlash and uncertainty around data-center and AI power demand. Separately, GLJ Research assigned the stock a Sell rating, providing a bearish counterpoint to Evercore’s stance. Data-center backlash GLJ Research Sell rating

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. William Blair reissued an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Guggenheim dropped their target price on GE Vernova from $1,450.00 to $1,400.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. Jefferies Financial Group restated a “buy” rating and set a $1,100.00 price target on shares of GE Vernova in a research note on Thursday, October 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,298.00 price target on shares of GE Vernova in a research report on Wednesday, October 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,200.00 price objective on shares of GE Vernova in a research note on Thursday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $1,143.03.

GE Vernova Profile

GE Vernova is an energy technology company that designs, manufactures and services equipment used to generate, transmit and distribute electricity. It became an independent public company in April 2024 after separating from General Electric, which had built its energy businesses over more than a century. The company operates through three main businesses: Power, Wind and Electrification. Its offerings include gas and steam turbines, hydropower technologies and related services; onshore and offshore wind turbines; and grid equipment, power-conversion systems and software used to support electricity networks.