Essex Financial Services Inc. Purchases 110 Shares of GE Vernova Inc. $GEV

Essex Financial Services Inc. lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,529 shares of the company’s stock after acquiring an additional 110 shares during the period. Essex Financial Services Inc.’s holdings in GE Vernova were worth $3,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares in the last quarter. American Assets Inc. bought a new position in shares of GE Vernova during the 4th quarter valued at approximately $658,000. Mackenzie Financial Corp increased its position in GE Vernova by 5.1% in the fourth quarter. Mackenzie Financial Corp now owns 24,808 shares of the company’s stock worth $8,160,000 after purchasing an additional 1,194 shares during the last quarter. Ascent Group LLC raised its stake in GE Vernova by 2.3% during the fourth quarter. Ascent Group LLC now owns 1,908 shares of the company’s stock valued at $628,000 after purchasing an additional 42 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in GE Vernova during the fourth quarter valued at $50,943,000.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

NYSE GEV opened at $628.11 on Thursday. The company has a market cap of $170.99 billion, a PE ratio of 151.35, a P/E/G ratio of 4.62 and a beta of 1.87. The firm’s 50 day moving average price is $621.67 and its 200-day moving average price is $484.28. GE Vernova Inc. has a 52-week low of $247.07 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the business posted $4.65 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Jefferies Financial Group upped their price objective on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Morgan Stanley lifted their target price on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. TD Cowen raised their price target on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $592.35.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.