1,780 Shares in GE Vernova Inc. $GEV Bought by Wealth Effects LLC

Wealth Effects LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,780 shares of the company’s stock, valued at approximately $2,092,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. World Investment Advisors increased its position in GE Vernova by 19.9% during the 4th quarter. World Investment Advisors now owns 13,497 shares of the company’s stock worth $8,821,000 after purchasing an additional 2,241 shares in the last quarter. Riverbend Wealth Management LLC acquired a new position in GE Vernova in the 4th quarter valued at about $567,000. Vest Financial LLC lifted its holdings in GE Vernova by 56.7% in the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company’s stock valued at $43,260,000 after purchasing an additional 23,956 shares in the last quarter. RiverFront Investment Group LLC lifted its holdings in GE Vernova by 239.2% in the 4th quarter. RiverFront Investment Group LLC now owns 2,191 shares of the company’s stock valued at $1,432,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Danske Bank A S lifted its holdings in GE Vernova by 5.5% in the 4th quarter. Danske Bank A S now owns 156,236 shares of the company’s stock valued at $102,111,000 after purchasing an additional 8,086 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have commented on GEV shares. Sanford C. Bernstein lifted their target price on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. BMO Capital Markets reissued an “outperform” rating on shares of GE Vernova in a research note on Friday, August 7th. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Guggenheim lifted their price objective on GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, BNP Paribas Exane downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Two research 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 given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,133.15.

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

GE Vernova Stock Down 1.0%

NYSE GEV opened at $956.69 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The business has a 50 day moving average price of $1,042.72 and a two-hundred day moving average price of $968.13. The stock has a market cap of $254.80 billion, a PE ratio of 27.38, a P/E/G ratio of 3.45 and a beta of 1.21.

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