GE Vernova Inc. $GEV Stock: Cornerstone Advisors LLC Decreases Stake

Cornerstone Advisors LLC lowered its position in shares of 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. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter worth about $25,569,630,000. State Street Corp increased its stake in shares of GE Vernova by 3.3% in the 2nd quarter. State Street Corp now owns 11,765,340 shares of the company’s stock worth $13,828,380,000 after acquiring an additional 370,842 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of GE Vernova by 38.3% in the 3rd quarter. Fisher Asset Management LLC now owns 4,921,063 shares of the company’s stock worth $4,677,422,000 after acquiring an additional 1,361,584 shares in the last quarter. Bank of America Corp DE purchased a new position in GE Vernova during the 2nd quarter valued at about $2,961,612,000. Finally, Bank of New York Mellon Corp purchased a new position in GE Vernova during the 2nd quarter valued at about $2,497,472,000.

Latest GE Vernova News

Here’s some of the latest news about GEV:

• 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: A Canadian small modular reactor project linked to GE Vernova faces construction delays and higher projected costs, adding execution and cost-risk concerns to the hydrogen-turbine progress. Ontario nuclear project delays

Wall Street Analyst Weigh In

GEV has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of GE Vernova from $1,225.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Guggenheim decreased their target price on shares of GE Vernova from $1,450.00 to $1,400.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,100.00 target price on shares of GE Vernova in a research note on Thursday, October 29th. TD Cowen lowered their target price on shares of GE Vernova from $1,235.00 to $1,125.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Finally, Susquehanna dropped their price target on GE Vernova from $1,270.00 to $1,250.00 and set a “positive” rating on the stock in a research report 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 assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $1,143.03.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $803.17 on Friday. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.83 and a quick ratio of 0.62. The business has a fifty day moving average price of $913.05 and a 200-day moving average price of $948.17. The company has a market capitalization of $212.58 billion, a PE ratio of 21.08, a PEG ratio of 2.67 and a beta of 1.25.

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

GE Vernova Announces Dividend

The company also recently disclosed 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 yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio (DPR) is currently 5.25%.

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.