GE Vernova Inc. (NYSE: GEV) closed Friday, November 28, 2025 at $599.77, up 1.7% on the day, after trading between $588.53 and $599.77. Volume came in around 1.0 million shares, well below its 3‑month average of roughly 3.0 million. At today’s close, the company’s market capitalization sits near $162 billion, with a trailing P/E around 96 and a modest dividend yield of about 0.17%. [1]
The move comes on a day when major new institutional positions, profit‑taking by others, and fresh options and structured‑product activity all converged around GE Vernova. At the same time, the stock remains a high‑profile way to play AI‑driven electricity demand and the broader energy transition.
Below is a detailed look at what happened with GE Vernova stock today, what the latest filings reveal, and how the fundamental story is evolving.
1. GE Vernova stock today: price snapshot and market context
- Closing price (Nov 28, 2025): $599.77 (+$10.05, +1.70%)
- After-hours quote: about $598.50 (-0.21%) shortly before 4 p.m. EST
- Day range: $588.53 – $599.77
- 52‑week range: $252.25 – $677.29
- Market cap: ~$162.4 billion
- P/E ratio: ~96
- Dividend yield: ~0.17%
- Short interest: about 2.6% of float; days to cover under 2. [2]
Today’s gain extends a powerful longer‑term move. According to Trefis, GE Vernova’s share price jumped from about $338 to nearly $590 over the last year — a roughly 74% gain, even though headline revenue, margins and the P/E multiple have stayed broadly similar, implying a significant re‑rating of the stock rather than a fundamental turnaround alone. [3]
In the broader market, a risk‑on session helped: a stock‑market recap highlighted that the Dow Jones and Nasdaq both rose on Friday, led by Alphabet and other AI beneficiaries, with GE Vernova cited among the names contributing to the rally alongside Nvidia, Tesla and Broadcom. [4]
2. What’s new on November 28, 2025: a wave of institutional moves
The biggest theme in today’s news flow is institutional repositioning in GE Vernova. Multiple new SEC Form 13F‑related updates hit the tape, most of them summarized by MarketBeat. Together, they paint a picture of strong net institutional interest, even as some investors take profits.
2.1 Major new stake: Norges Bank
- Norges Bank, Norway’s sovereign wealth fund, disclosed a new position of 3,419,106 GEV shares, valued at roughly $1.81 billion, representing about 1.26% of the company. [5]
- The filing underscores how quickly GE Vernova has moved into the “core holding” bucket for large global institutions.
2.2 Other institutions adding to positions
Several other investors also boosted their GEV exposure in Q2, with those filings surfacing today:
- Silvant Capital Management increased its stake by 30.9%, adding 18,912 shares to reach 80,096 shares worth about $42.4 million. GEV is now Silvant’s 15th‑largest holding, at roughly 1.6% of its portfolio. [6]
- Groupama Asset Management lifted its position by 3% and now holds 108,627 shares, valued at around $56.5 million. [7]
- The Employees Retirement System of Texas reported a new position of 2,228 shares, worth about $1.18 million. [8]
- The State Board of Administration of the Florida Retirement System added 4,729 shares, bringing its stake to 266,371 shares (about 0.10% of the company), valued near $141 million. [9]
The common threads in these filings:
- Institutions are willing to commit fresh capital near $600 per share.
- GEV is increasingly appearing as a top‑tier conviction idea in diversified portfolios.
2.3 Profit‑taking: some funds trim their GEV exposure
Not every institution is adding. Some are locking in part of the past year’s hefty gains:
- Quadrature Capital reduced its position by 48.7%, selling 37,734 shares and ending the quarter with 39,752 shares worth about $21 million. [10]
- HSBC Holdings trimmed its stake by 5.5%, selling 25,169 shares and retaining 432,786 shares (about 0.16% of GEV) valued around $229 million. [11]
- Ceredex Value Advisors made the most aggressive cut, reducing its holding by 82.5% (selling 194,591 shares) and finishing with 41,373 shares worth nearly $21.9 million. [12]
Taken together, today’s filings suggest healthy two‑way institutional flow:
- Long‑term, benchmarked investors (like Norges Bank) are building sizable core stakes.
- More valuation‑sensitive managers are harvesting gains after a triple‑digit percentage run since 2024. [13]
3. Options market & structured products: what derivatives are signaling today
Alongside cash‑equity interest, GE Vernova is becoming an active underlying for derivatives and structured products.
3.1 Options implied volatility and expected range
Options analytics sites tracking GEV’s November 28, 2025 expiry estimate:
- Implied volatility near 49–50%,
- A 68% probability range roughly between the low $520s and mid‑$640s for where the stock might settle around this date. [14]
One options tool also pegs “max pain” around $570 for this expiry — the level at which combined call and put option writers would suffer the least mark‑to‑market loss. [15]
High implied volatility and meaningful open interest suggest traders expect continued big swings in GEV, consistent with its status as a high‑beta, high‑multiple play on the energy transition.
3.2 New Goldman Sachs structured note tied to GEV
Separately, Goldman Sachs is marketing a new “principal at risk” structured note directly linked to GE Vernova’s common stock:
- The note references GE Vernova (Bloomberg ticker “GEV UN”) as the underlying.
- The pricing date is expected to be around November 28, 2025, with an original issue date in early December.
- It features an automatic call feature if GEV trades at or above its initial price on scheduled dates, with call premiums escalating up to at least 97% by maturity in 2030.
- A downside threshold at 80% of the initial share price means investors can lose principal if the stock falls sharply.
- The document explicitly notes that GEV still has a “very limited trading history”, reflecting its relatively recent spin‑off from GE. [16]
The fact that banks are structuring multi‑year, yield‑enhancement notes around GE Vernova is another sign that the name has graduated into the mainstream equity‑derivatives universe.
4. Fundamentals and growth outlook: earnings, guidance and AI demand
4.1 Recent earnings and Zacks expectations
In its most recent reported quarter (October 22, 2025), GE Vernova:
- Delivered revenue of $9.97 billion, up 11.8% year over year and above the roughly $9.1 billion consensus.
- Reported EPS of $1.64, up from $0.35 a year earlier but below the $1.72 consensus.
- Generated a net margin of about 4.5% and return on equity around 17%. [17]
Looking forward, Zacks notes that:
- For the current quarter, consensus EPS stands at $3.05, implying +76% growth vs. the prior year, though estimates have ticked slightly lower over the past month.
- Full‑year 2025 EPS is projected around $7.47, up 34% year over year, and 2026 EPS near $12.77, implying +71% growth.
- Revenue is expected to reach $37.2 billion in 2025 (+6.4% y/y) and $41.8 billion in 2026 (+12.4% y/y).
- Zacks assigns the stock a Rank #3 (Hold) and a Value Style Score of “F”, indicating the shares trade at a premium to peer valuations. [18]
4.2 Multi‑year company guidance and capital return
GE Vernova’s own long‑term outlook, updated at its 2024 Investor Update, is ambitious:
- Revenue: targeting about $45 billion by 2028, with high‑single‑digit organic revenue CAGR from 2025–2028.
- Adjusted EBITDA margin: aiming for 14% by 2028, up from 5.5–6% in 2024 and high single‑digits in 2025.
- Free cash flow: expects at least $14 billion cumulatively from 2025–2028, with $2.0–$2.5 billion in 2025 alone.
- Capex & R&D: plans to deploy ~$4 billion in capex and ~$5 billion in R&D over that period.
- Capital returns: board approved a $0.25 per share quarterly dividend (paid from early 2025) and an initial $6 billion share‑repurchase authorization, with a goal to return at least one‑third of cash generation to shareholders. [19]
At today’s price near $600, that $1.00 annual dividend translates to a small yield, but the policy signals a shareholder‑friendly capital‑allocation framework.
5. Strategy & deals: solidifying the “AI power” and grid story
The core narrative behind GE Vernova’s stock is that it is positioned at the intersection of:
- Power generation (gas, nuclear, hydro, steam),
- Wind (onshore and offshore turbines), and
- Electrification (grid solutions, conversion, storage and software). [20]
Several recent deals and initiatives reinforce that positioning:
- AI and data‑center demand: A 24/7 Wall St analysis highlighted GE Vernova as one of two energy stocks with particularly strong AI tailwinds, noting the shares have surged over 335% since March 2024 as demand for gas, wind and hydro turbines has “exploded” alongside AI data‑center build‑outs. [21]
- Alteia acquisition (AI tools for utilities): GE Vernova agreed to acquire French AI company Alteia to enhance data‑driven tools and digital twins for utilities, enabling smarter grid planning and asset management. [22]
- Proficy sale to TPG: It also struck a deal to sell its Proficy industrial data‑software business to TPG for about $600 million, freeing capital and management focus for grid‑centric software and services. [23]
- Prolec JV consolidation: In October 2025, GE Vernova moved to buy the remaining stake in transformer maker Prolec from Mexico’s Xignux for $5.28 billion, giving it full control over a key supplier of grid infrastructure hardware at a time when investment in transmission networks is accelerating globally. [24]
- Carbon capture in Singapore: The company also announced a carbon‑capture feasibility study with YTL PowerSeraya for a 600‑MW hydrogen‑ready gas plant on Singapore’s Jurong Island, targeting 90% CO₂ capture and showcasing its role in lower‑carbon power solutions. [25]
Taken together, these moves strengthen the idea of GE Vernova as both an AI‑adjacent growth play and a core enabler of the energy transition.
6. Analyst ratings, valuation and sentiment
On the sell‑side and aggregator front:
- MarketBeat data shows a consensus “Moderate Buy” rating, with:
- A large majority of analysts in the Buy/Strong Buy camp,
- A smaller group recommending Hold, and only a handful rating the stock Sell. [26]
- The average 12‑month price target is about $607–608, only modestly above today’s close, but individual targets stretch as high as the mid‑$700s, according to recent updates from firms like Melius, Barclays, GLJ Research and BMO. [27]
- Some analysts and quantitative services, including Zacks, flag valuation concerns, with style scores that classify GEV as expensive versus peers. [28]
Trefis likewise notes that the stock’s ~74% gain over 12 months occurred without big changes to core fundamentals (revenues, margins or the P/E multiple), implying that the market is already pricing in a long runway of strong execution and AI‑driven demand. [29]
7. How risky is GE Vernova stock?
GE Vernova’s appeal comes with real risk, and several sources point this out explicitly:
- Trefis highlights the company’s history of deep drawdowns during major market shocks — drops of 48–60% or more in past crises — as a reminder that even strong structural stories can be very volatile in downturns. [30]
- The Goldman Sachs structured note tied to GEV goes out of its way to warn that investors “may lose [their] entire investment” if the stock falls below its downside threshold, and it flags the stock’s limited trading history as an additional risk factor. [31]
- With a P/E in the mid‑90s and forward earnings growth still dependent on executing complex power, wind and grid projects worldwide, GE Vernova is not priced like a defensive utility; it behaves more like a growth stock with cyclical exposure. [32]
For investors, that means:
- Upside can be powerful when AI, grid and renewables narratives are in favor,
- But downside can be severe during macro shocks, policy reversals, or execution missteps.
8. Bottom line: what today’s news means for GE Vernova (GEV) stock
Putting all of today’s developments together:
- Price & trading: GEV finished just under $600 with a solid gain, moderate volume, and still‑elevated valuation metrics, after a year of outsized returns. [33]
- Institutional flows: A wave of 13F filings shows heavyweight institutions like Norges Bank and major asset managers building or increasing positions, even as others lock in profits. This supports the idea that GEV is graduating into a long‑term core holding for many global investors. [34]
- Derivatives & notes: Elevated options activity and implied volatility, plus a new Goldman Sachs structured note tied to GEV, highlight strong demand for exposure and yield‑enhancement strategies around the name — but also underline its risk profile. [35]
- Fundamentals: Earnings are growing, guidance and free‑cash‑flow targets are robust, and GE Vernova is committing real capital to capex, R&D and shareholder returns via dividends and buybacks. [36]
- Strategic positioning: The company is squarely positioned as an AI‑power and energy‑transition enabler, with acquisitions (like Alteia), divestitures (Proficy), and big grid/power deals (Prolec JV, Singapore carbon capture) aligning it with explosive demand for electricity and grid upgrades. [37]
For short‑term traders, today’s data points around options, structured products and price levels may be most relevant. For long‑term investors, the standout takeaway from November 28, 2025 is that large, sophisticated institutions are increasingly choosing to own GEV — despite, and because of, its volatility and high expectations.
Disclaimer: This article is for informational purposes only and does not constitute investment, tax or financial advice. All investing involves risk, including the possible loss of principal. Always do your own research or consult a licensed financial advisor before making investment decisions.
References
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