Bank of New York Mellon Corp Sells 635,173 Shares of GE Vernova Inc. $GEV

Bank of New York Mellon Corp cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 21.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,267,266 shares of the company’s stock after selling 635,173 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of GE Vernova worth $1,394,142,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of GE Vernova by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after acquiring an additional 271,958 shares during the last quarter. State Street Corp raised its position in GE Vernova by 1.9% in the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after purchasing an additional 206,650 shares during the period. Geode Capital Management LLC lifted its stake in GE Vernova by 2.2% in the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after purchasing an additional 129,315 shares during the last quarter. Norges Bank bought a new stake in GE Vernova in the second quarter worth $1,809,220,000. Finally, Invesco Ltd. boosted its position in GE Vernova by 26.3% during the second quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after buying an additional 462,038 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on GE Vernova from $710.00 to $780.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Evercore ISI started coverage on GE Vernova in a research note on Monday, December 15th. They set an “outperform” rating and a $860.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $817.00 target price on shares of GE Vernova in a research note on Monday. Finally, Citigroup increased their price target on shares of GE Vernova from $658.00 to $708.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $701.42.

GE Vernova News Summary

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

• Positive Sentiment: Analysts and market coverage highlight a full backlog and high expectations heading into the Q4 release, which supports upside to near-term guidance and sentiment. GE Vernova earnings due with sky-high expectations and a full backlog
• Positive Sentiment: Zacks previews that Q4 should show stronger EBITDA, margin expansion and cash flow even if revenues slip from timing in gas turbines and weak onshore wind — metrics that can underpin higher valuation multiples. GEV Q4 Earnings on the Deck: How to Approach the Stock Now?
• Positive Sentiment: Brokerages’ consensus sits at an average “Moderate Buy,” indicating dealer support that can sustain investor interest into the print. GE Vernova Inc. (NYSE:GEV) Given Average Rating of “Moderate Buy” by Brokerages
• Positive Sentiment: Company narrative is evolving: management changes and AI-driven demand themes are being framed as structural positives for long-term growth and investor story. How GE Vernova’s Leadership Shift And AI Power Demand Themes At GE Vernova (GEV) Has Changed Its Investment Story
• Neutral Sentiment: Zacks also published an earnings-estimate deep dive outlining Wall Street’s top- and bottom-line expectations and key metrics to watch, useful for trade/positioning around the print but not directional by itself. Unlocking Q4 Potential of GE Vernova (GEV): Exploring Wall Street Estimates for Key Metrics
• Negative Sentiment: Market commentary flags oversupply concerns in the sector and a PJM emergency auction proposal that could pressure near-term power equipment demand/pricing. Mixed analyst sentiment on GE Vernova (GEV) amid oversupply concerns and PJM emergency auction proposal
• Negative Sentiment: Prominent commentator Jim Cramer urged caution, saying investors may want a better entry point, which can sap short-term retail buying despite positive fundamentals. Jim Cramer on GE Vernova: “I think you need a better entry point”

GE Vernova Stock Performance

GEV opened at $691.89 on Wednesday. The stock has a market capitalization of $187.72 billion, a PE ratio of 112.69, a price-to-earnings-growth ratio of 2.83 and a beta of 1.67. The stock’s 50 day moving average price is $643.71 and its 200-day moving average price is $619.78. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00.

GE Vernova Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be issued a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 32.57%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.