Worth Financial Advisory Group LLC Makes New Investment in GE Vernova Inc. $GEV

Worth Financial Advisory Group LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel.com reports. The firm acquired 790 shares of the company’s stock, valued at approximately $928,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth about $25,000. Wealth Watch Advisors INC bought a new position in GE Vernova during the 3rd quarter valued at about $25,000. Torren Management LLC acquired a new position in GE Vernova in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC grew its stake in GE Vernova by 68.4% during the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the last quarter. Finally, Navalign LLC bought a new stake in GE Vernova during the fourth quarter worth about $27,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Susquehanna set a $1,300.00 price target on GE Vernova in a research report on Thursday, April 23rd. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of GE Vernova in a research report on Tuesday, July 21st. Finally, BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

GE Vernova Trading Up 1.8%

Shares of NYSE GEV opened at $1,082.30 on Tuesday. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The company has a market cap of $288.25 billion, a PE ratio of 30.98, a P/E/G ratio of 3.79 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $1,037.03 and a two-hundred day moving average of $962.56.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period last year, the company earned $1.86 earnings per share. GE Vernova’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova 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.