Silverlake Wealth Management LLC Takes $1.22 Million Position in GE Vernova Inc. $GEV

Silverlake Wealth Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,036 shares of the company’s stock, valued at approximately $1,217,000.

A number of other institutional investors have also modified their holdings of the business. World Investment Advisors grew its holdings in shares of GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after buying an additional 2,241 shares during the last quarter. Riverbend Wealth Management LLC purchased a new stake in GE Vernova during the 4th quarter valued at approximately $567,000. Vest Financial LLC raised its stake in GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after acquiring an additional 23,956 shares during the last quarter. RiverFront Investment Group LLC lifted its position in GE Vernova by 239.2% during the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock worth $1,432,000 after acquiring an additional 1,545 shares during the period. Finally, Danske Bank A S lifted its position in GE Vernova by 5.5% during the 4th quarter. Danske Bank A S now owns 156,236 shares of the company’s stock worth $102,111,000 after acquiring an additional 8,086 shares during the period.

GE Vernova Stock Performance

NYSE GEV opened at $965.58 on Friday. The stock has a market capitalization of $257.16 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 3.52 and a beta of 1.21. The business’s 50 day moving average is $1,042.39 and its two-hundred day moving average is $968.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last posted 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 business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the business earned $1.86 earnings per share. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. Research analysts expect that GE Vernova Inc. will post 15.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen boosted their target price on GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of GE Vernova in a research note on Tuesday, July 21st. Robert W. Baird upped their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

Insider Transactions at GE Vernova

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

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.